Last week, retaliatory economic measures against the United States entered into force in the Middle Kingdom. The Chinese authorities responded to raising duties Trump: the 47th US president introduced additional 10 percent margins for goods from the PRC, and the State Council of China revised tariffs for importing minerals, agricultural equipment, as well as cars with engines of more than 2.5 liters.
Until February 10, cars imported from the United States were taxed 15%, and now the tariff has increased to 25%. Last year, cars exported from North America to China in the amount of more than three billion dollars, so the effect of the “trade wars” will be tangible. Under the blow of Ford and General Motors with their premium brands (Lincoln and Cadillac), as well as German brands BMW and Mercedes-Benz.
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The fact is that six- and eight-cylinder crossovers and SUVs are mainly imported to China from abroad. Even “small” Chevrolet Tahoe, because they have a 2.7-liter engine, fall under new duties. It is curious that American brands will also suffer from Donald Trump’s bill, because both Ford and General Motors import mass models from China to the United States.
In addition to cars under the blow, certain types of minerals: an additional 15 percent allowances on coal and liquefied gas. “Extra” 10% will have to pay extra for China oil from the United States. In addition, the PVH Group, the owner of the brands of Calvin Klein and Tommy Hilfiger, was included in the list of unreliable organizations violating the principles of market trade.
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