Article

2019-11-06 China-Japan-Koreas

Trump’s Trade War Slashed US Imports From Beijing by $35Bln in First Half of 2019

[SPUTNIKNEWS] The trade war between the United States and China has hurt both sides and decreased US imports from Beijing by $35 billion over the first half of this year, the UN Conference on Trade and Development (UNCTAD) said in a report.

"The analysis shows that US tariffs caused a 25% export loss, inflicting a US$35 billion blow to Chinese exports in the US market for tariffed goods in the first half of 2019," a blurb accompanying the report said on Tuesday.

The US tariffs on China are economically hurting both countries and US losses are largely related to higher prices for consumers, the UNCTAD report warned.

Taiwan was the largest beneficiary of the trade diversion effects of US tariffs on China, accounting for additional exports to the United States of almost $4.2 billion in the first half of 2019, the report said.

Mexico’s increase in exports to the United States due to the new tariffs on China are quantified to be about $3.5 billion, mostly in the agri-food, transport equipment and electrical machinery sectors, UNCTAD added.

Posted by Fred 2019-11-06 00:00|| || Front Page|| [11130 views ] Top
File under: Commies

#1 $35 billion less from China, $4.2B more from Taiwan and $3.5B from Mexico. Where'd the other $27.3 go to/come from? Bad Sputnik math?

Posted by Bobby 2019-11-06 08:26|| 2019-11-06 08:26|| Front Page Top

#2 we also had reduced exports

the arithmetic won't add up because the total exports and imports are different each year

also it depends whether its just merchandise or does it count services, fees and so forth

in any case the arithmetic isn't really the issue as the US has as its objective to get the PRC to reform its practices and the PRC objective is to not reform its practices

Posted by lord garth 2019-11-06 18:13|| 2019-11-06 18:13|| Front Page Top

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