19.8 C
New York
Saturday, April 1, 2023

U.S.-China trade: tariff and non-tariff barriers

U.S.-China trade: tariff and non-tariff barriers© Reuters. U.S. President Trump meets with China’s Vice Premier Liu He at the White House in Washington

By Patturaja Murugaboopathy

(Reuters) – U.S. President Donald Trump said this week he may soon sign a deal with Chinese President Xi Jinping to end a trade war blamed for slowing global economic growth and disrupting markets.

Citing progress in talks between the two countries, Trump said he would delay a planned increase in tariffs to 25 percent from 10 percent on $200 billion of Chinese imports.

China’s trade surplus with the United States, which is at the center of their dispute, rose to $323.32 billion last year, the biggest on record going back to 2006.

Graphic: China’s trade surplus with the United States – https://tmsnrt.rs/2RSj3PM

China’s average import tariff of 3.5 percent is the highest among top industrial nations, data from the World Bank shows, although its tariff rates have fallen sharply over the past 20 years.

Graphic: China and G10 countries average tariff rate – https://tmsnrt.rs/2BT9Hu5

Trump and Xi called a 90-day truce last year to allow time for a deal to be negotiated. But the U.S. threat of tariff increases comes just as China is trying to support its cooling economy, so could offer Trump leverage in the talks.

Negotiators from both camps have been seeking to iron out differences over China’s treatment of state-owned enterprises, subsidies, forced technology transfers and cyber theft.

The two sides are expected to sign memorandums of understanding (MOUs) for actions to be taken by China on issues ranging from structural reforms to trade and economic policies.

Graphic: China’s major exports in 2018 – https://tmsnrt.rs/2U9Qdsf

Graphic: China’s average tariffs – https://tmsnrt.rs/2SXiFwB

Graphic: China’s technology firms’ R&D cost and ROE – https://tmsnrt.rs/2Ez1qgz

Graphic: Major items among $200 billion tariffs – https://tmsnrt.rs/2HGBgfj

Graphic: Major items among $34 billion tariffs – https://tmsnrt.rs/2HG2Rxj

Graphic: Major items among $16 billion tariffs – https://tmsnrt.rs/2HFiipx

Graphic: China’s top imports and exports to U.S. – China’s top imports and exports to U.S.

Reuters reported that both sides were drafting MOUs on cyber theft, intellectual property rights, services, agriculture and non-tariff barriers to trade, including subsidies.

Graphic: US immigrant visas to Chinese residents – https://tmsnrt.rs/2E6CBbx

Trump administration officials have pointed to China’s industrial subsidies, numerous regulations, business licensing procedures, product standards reviews and other practices as non-tariff barriers to trade.

Graphic: U.S. non-tariff barriers – https://tmsnrt.rs/2E5xIze

Graphic: China’s non-tariff measures sector-wise – https://tmsnrt.rs/2TKqtCl

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source: Investing.com

Related Articles

Stay Connected

- Advertisement -

Latest Articles

Popular Articles