Original title: does the US levy 25% tariff on China harm the economies of the two countries and have any impact on the world economy?
A few days ago, the US side raised its tariff on US $200 billion of Chinese goods exported to the us from 10% to 25%. In response to this unilateralism of the United States, all parties generally believe that the imposition of tariffs will not help solve the problem, not only damage the economy of the United States and China, but also bring negative impact on the world economy.
Many industry associations, such as the all China Federation of retailers, the information technology industry association, the chemical Committee, and the Soybean Association, have recently issued statements opposing the further increase of tariffs on Chinese goods exported to the United States by the United States.
David & middot; French, senior vice president of the National Retail Federation, said that the sudden announcement of tariff increase by the US government will seriously disrupt the operation of us enterprises, especially those small enterprises that are difficult to alleviate tariff pressure due to limited resources.
French stressed: "tariffs are paid by American enterprises and consumers, not by China. A recent study released by the Federal Reserve Bank of New York also shows that the US imposed tariffs on steel and aluminum products and Chinese goods last year, resulting in a 0.3 percentage point rise in the US consumer price index last year.
AFP quoted a research report by the world trade consulting company as saying that raising the tariff rate to 25% will lead to an average annual increase of $767 for a family of four in the United States and threaten nearly 1 million jobs.
According to Reuters, data transmission equipment, including modems and routers, accounts for the largest proportion of China's US $200 billion goods, with a total value of more than US $20 billion. Gary Shapiro, President of the consumer Technology Association of America, said: "the consumer technology industry has sustained more than 18 million American jobs, and the consequences of imposing tariffs will be disastrous. '
Given that China is an important consumer market for U.S. soybeans, U.S. soybean farmers are also disappointed by the latest tariff measures of the U.S. government. Jim middot Sartre, chief executive of the American Soybean Export Association, said the tariffs, as well as the failure to reach an agreement to eliminate the Chinese countervailing tariffs on American products, directly affect American farmers, who have been struggling with market uncertainty for a year. '
Not only bean farmers, but also other general consumer goods industries will be affected by tariff. Ryan & middot; zagta, founder of Brooklyn bicycle company in the United States, said that the 10% tariff increase has made the industry miserable, and the 25% tariff increase will have an inestimable impact on the market and completely change the rules of the industry's game.
According to industry data, 90% of the 18 million bicycles sold in the United States every year come from China. At the same time, the United States imports more than US $300 million worth of spare parts from China every year. As it is difficult to find alternative sources like China, the US government's "tariff bullet" will actually hit its own people.
Christine & middot; zichek, a researcher at the US automotive research center, said that imposing tariffs on auto parts imported from China would increase the cost of each car produced in the United States by an average of about $190, with consumers paying for most of the increased costs. At the same time, auto manufacturers raise prices due to rising costs, and their sales will also be affected.
In fact, the U.S. tariff escalation will not only damage the U.S. and Chinese economies, but also have a chain reaction in the world. Ulrich & middot; Ackerman, head of foreign trade affairs of the Federation of German machinery and equipment manufacturing industries, said that China's trading partners will also feel uneasy, and the European machinery and equipment manufacturing industry will also be impacted by the tariff escalation of the United States.
In a report on the 10th, Australian TV station 9 also said: 'judging from historical experience, there is no real winner in the trade war. The report said that if the United States initiates a trade war, it will have a disastrous impact on the world economy.