FX.co ★ Trump threatens to raise tariffs on Chinese goods by more $300 bln

It seems that the bright future for China’s economy is losing its shine. Until recently, the Chinese have been under the illusion of a roaring success as the demand for the mass consumption goods manufactured in their country and the cheap workforce has increased for the past few years. Besides, the global community turned a blind eye on China’s repeated violations of the copyright law. Thus, the Asian communists had a firm opinion that the galloping economic growth was a result of their own achievements. But in fact, it was not. Once the United States had expressed some outbursts against China, the record-breaking pace of economic expansion weakened. The Chinese technological progress turned out to be an imitation of developments of the American and other companies. The future of the country’s economy now depends on Donald Trump who has already imposed tariffs on Chinese imports worth $200 billion and is going to introduce more duties amounting to $300 billion.

“Our talks with China, a lot of interesting things are happening. We’ll see what happens. I could go up another at least $300 billion and I’ll do that at the right time,” Trump said. Unlike some other politicians, the US President is a man of action. If he promises something, he is bound to fulfill his promises. In particular, he pledged to impose tariffs, and he did it. The Chinese, in turn, refused to believe that the United States would dare to make decisive actions, so they just pretended to agree with their American counterparts and omitted some key points from the final agreement in hope it would pass unnoticed. But it did not. Washington retaliated against Beijing for its negligence by introducing the first round of tariffs and threatening to impose the second one. So, next time China is better think twice before giving the United States backword.