“How important the United States are, they only make up 13 percent of global import,” said the World Trade Organization (WTO) on Thursday. It is important that the rest of the world stays together against the customs policy of US President Donald Trump.
After all, 87 percent of the import would also be outside the United States. The burglaries for world trade in the US, Canada and Mexico are greatest, said chief economist Ralph Ossa. It is now important to respond to diverted trade flows. For example, Ossa concerns that China will deliver many goods that would otherwise be exported to the US. The plus can be six percent.
At the same time, there are new export options for the US if considerably less textile, clothing and electrical appliances from China are imported. The high American rates for Chinese products in many countries are concerned about competition from the Far East.
China ready to negotiate
The WTO predicts that the bilateral trade between China and the United States will collapse by around 80 percent. “The reason why this is not so important for world trade is that China and the US, ie bilateral trade between these two countries, are only about three percent of world trade,” Ossa said.
The American rates for input from China are up to 245 percent. The Chinese government has now asked the White House for negotiations – “based on mutual respect”. You don’t get involved in a number game.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
