Do not close deals with US

China warns countries against the conclusion of economic deals with the United States that are at the expense of China. Beijing also accuses the US of abusing the trading rates. There are measures against each party that closes a deal at the expense of China, says the Ministry of Commerce. What measures are is not clear.

The ministry responds to Bloomberg news. That American news agency spoke several sources that say that President Trump is preparing to put pressure on countries to limit the trade with China, in exchange for lower or even exemption from the trading rates.

This week Beijing convenes an informal meeting of the United Nations Security Council. In it, China Washington wants to officially accuse harassment and “throwing a shadow over the global efforts for peace and wrapping” by deploying the taxes as a weapon.

“The United States have abused rates for all trading partners under the guise of so -called equality,” a spokesperson for the Chinese Ministry told Reuters news agency. China says it is determined to protect its own rights and interests, but also says it wants to strengthen the bond with all countries.

The goal of Trump’s rates is to reduce the trade deficit with China. The US buys much more in China than the other way around and Trump believes that this should be done differently.

For this, Trump must close deals that ensure that other trade blocks, such as the European Union, also introduce extra levies on Chinese products. “That dichotomy of the world could be the final goal that Trump has in mind,” concluded Rabobank economist Frank van Es last week.

At the beginning of this month, Trump announced a break of ninety days before the global import duties, but he raised them for China. The American import duties are now 145 percent for a large number of products from China.

With high import duties, Trump wants to make the trade balance between Europe and the US ‘more fairer’, but that balance is not as unfair as he says, reporter Eva Wiessing explains: