Views: 0 Author: Site Editor Publish Time: 2021-05-25 Origin: Site
2019 continue to friction
China-U.S. trade has changed again in 2019
On May 5, 2019, Trump said on Twitter that he planned to increase tariffs on US$200 billion of Chinese goods from 10% to 25% on May 10. On May 13, the Office of the United States Trade Representative announced a list of additional tariffs on 300 billion US dollars of Chinese goods.
On June 29, at the G20 summit in Osaka, Trump agreed not to impose new tariffs and relax restrictions on Huawei. However, on August 1, he announced an additional 10% tariff on US$300 billion of Chinese goods. Subsequently, the RMB exchange rate against the US dollar “breaked through 7” for the first time in nine years.
On August 13, the Office of the U.S. Liberal Trade Representative announced new adjustments. The 300 billion list is divided into two parts. One part will be subject to an additional 10% tariff on September 1, 2019, and the other part will be subject to an additional 10% tariff on December 15, 2019. . On September 1, the first batch of 15% tariffs on products exported to the United States of 300 billion US dollars from China was formally implemented.
As the U.S. continues to expand the scope of imported goods subject to additional tariffs and raise tariff rates, the average U.S. tariff rate on Chinese imports has risen from 3.1% at the beginning of Trump’s tenure to 21% at the end of 2019. China exports with protective tariffs The proportion of American goods has risen to 64.5% at the end of 2019.
At the end of 2019, the third Regional Comprehensive Economic Relations Agreement (RCEP) Leaders’ Meeting was held in Bangkok, Thailand. The meeting issued a statement stating that “fifteen of the member states have concluded negotiations and initiated legal text review, and expect to sign the agreement in 2020. ". India announced that it would not join.
