With the announcement of president Donald Trump of raising customs duties on goods from China to 125 percent, the planet marketplace was surprised. This decision applies immediately, and Trump justified it by China's deficiency of respect for planet markets. At the same time, the president of the United States announced a 90-day break in the application of higher tariffs to another countries, with a reduced rate of 10%.
The trade war between China and the United States has been going on for respective years and customs duties on goods from China are 1 of the main points of dispute. Trump claims that China does not respect global markets and manipulate currency to gain a trade advantage. Consequently, the president of the United States decided to drastically rise customs duties in order to encourage China to talk and abolish trade barriers.
A 90-day break in the application of higher tariffs to another countries aims to encourage talks and find solutions that will benefit all parties. Trump stressed that over 75 countries called for talks on customs, trade barriers and currency manipulation.
It is worth noting that the trade war between China and the United States has a crucial impact on the planet economy. The global Monetary Fund (IMF) estimates that trade war can reduce economical growth by 0.5% in 2023. In addition, the planet Bank estimates that trade war can increase inflation by 1% in 2023.
Poland can besides be adversely affected by the trade war. The Ministry of improvement and Technology estimates that trade war can reduce Polish exports by 2% in 2023. Additionally, the National Bank of Poland estimates that the trade war can increase interest rates by 0.5% in 2023.
Therefore, the governments of the countries should cooperate to find solutions that will benefit all parties. Trump said he was open to talks and ready to abolish customs if China decided to improvement and abolish trade barriers.
It is worth recalling that trade war is simply a complex problem that requires cooperation and knowing between countries. Governments should work together to find solutions that will benefit all parties, and avoid negative effects on the planet economy.
In turn, economists say that trade war can have long-term negative effects on the planet economy. The global Trade Organisation (WTO) estimates that trade war can reduce global trade by 10% in 5 years.
In conclusion, the trade war between China and the United States is simply a complex problem which requires cooperation and knowing between countries. Governments should work together to find solutions that will benefit all parties, and avoid negative effects on the planet economy. It is worth monitoring the situation and supporting talks that can benefit all parties.
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