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Tuesday, 19 November 22:21 (GMT -05:00)



Business And Politics News

U.S-China Trade War Is Sponsored By Consumers


According to the IMF, consumers and producers are the biggest losers in the trade war between the United States and China. Despite growing duties, American companies are not in a hurry to move their production back to the USA.
 
Chinese mass media seem to agree with that statement. They claim that the increased gains made by Washington at the expense of increased import duties on Chinese products are almost entirely covered by American importers.
 
The IMF experts also claim that since the start fo the trade war, the trade turnover between the world's two biggest economies has shrunk by the trade deficit remains almost unchanged. Once again, a certain share of those duties has been covered by American consumers, and the rest has been covered by the importers. The 25% import duty raise to the amount of 200 billion dollars is considered to be the beginning of further tensions between in the USA and China in the economic and trade field.
 
It's also interesting to note that everyone seems to have suffered form this trade war, both the direct participants and their partners, with consumers and importers being the bigest losers paying for those constly tensions. Apparently, if the duties keep on growing, we already know who is going to pay for that as well.
 
In the meantime, the IMF experts say that the impact on American and Chinese producers is mixed. While some of them won from the situation, others lost from it. The biggest winners are the American and Chinese producers operating in the local markets and competing with the imported brands. The losers are the companies using the imported goods as raw materials for their production.

 

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