Date: 2 months ago   Category: Economy

The imbalance which caused trade wars of the USA and China in September considerably grew - RIA Novosti, 12.10.2018


US dollars. Archival photo
BEIJING, 12 Oct — RIA Novosti. Commodity turnover between China and the USA following the results of January-September, 2018 grew against the background of the continuing trade war by 12,1% in comparison with the same period of last year, at the same time the positive balance of China reached record level, the data of the head customs office published on Friday the People's Republic of China.© AP of Photo/Richard Drew demonstrate the Auction in stock exchanges of China opened the raznonapravlennoobshchy volume of bilateral trade following the results of nine months of year made 471,8 billion dollars. The Chinese export to the USA grew by 13% and made 348,8 billion dollars, and import of the USA — for 9,4%, to 123 billion. In September commodity turnover between two countries made 59,26 billion dollars, China imported into the USA of goods on 46,69 billion, at the same time import made only 12,56 billion of the USA. Thus the positive balance of trade balance of China which became one of the main reasons of trade war with the USA in September increased even more, having been record 34,13 billion dollars. Trade war between China and the USA began when the mutual raised customs duties came on July 6 into force. The USA introduced duty into 25% for import of 818 names of goods from China with a total amount of deliveries of 34 billion dollars a year. As a counter-measure China introduced duty into 25% for import of equivalent volume of the American goods on the same day. In August the USA introduced duty into 25% for import of the Chinese goods of 16 billion dollars. Right after it the Chinese side entered similar measures. The USA is dissatisfied with a trade imbalance between two countries which, by estimates of Washington, makes 500 billion dollars in favor of China. Beijing in turn considers an imbalance a consequence of domestic economic policy of the USA.

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