Recently, White House chief Donald Trump signed a decree introducing new, at least 10 percent “reciprocal” duties on the import of foreign goods into the United States, with China paying a 34 percent fee and the EU a 20 percent fee.
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As NBN reports with reference to the material from The Wall Street Journal, the Chinese leader Xi Jinping benefits from the above-described decision of President Donald Trump.
In particular, Xi Jinping will see this unusual and controversial event as confirmation of his position that China should not make a huge effort to advance its trade policy. Beijing may also take advantage of the favorable moment amid the disagreements of the “weakened West.”
According to the publication's assessment, these tariffs will affect goods from a number of Asian countries, thereby strengthening Beijing's trade influence, while preventing Vietnam (46 percent duty), Thailand (36 percent duty), Indonesia (32 percent duty) and the Philippines (17 percent duty) from freeing themselves from Chinese economic dependence.
The tariffs will also affect the European Union, which, according to analysts at The Wall Street Journal, will complicate US efforts to reduce the European economic sector's dependence on China:
…It is only a matter of time before trade delegations from France, Germany and other countries travel to China again.
Earlier we wrote that Trump announced the condition under which he would reduce US customs duties.