Know the 'trade war' between America and China and how it will affect the India
Wednesday - September 19, 2018 2:55 pm ,
Category : WTN SPECIAL
Starting of ‘trade war’ between America and China
The world economic situation to be worsen by the 'trade war' between US-China
SEP 19 (WTN) - If you are thinking that petrol-diesel is going to be cheaper in the coming days, so you are probably thinking wrong. Prices of petrol and diesel are increasing in the country almost every day because of the weakening rupee against the US dollar and as the crude oil prices in the international market being hiked every day. In such a scenario, due to the 'trade war' between the two biggest economic countries of the world, America and China, the rupee will weaken in the coming days, so that the cost of oil will be increased further.
You must be wondering what this ‘trade war’ is after all. For your information, let you know that the world's two largest economies, the United States and China have started trading competitiveness by charging higher duty on imported goods in each other countries, which will affect the entire world economy, it is called 'trade war'. For your information, let you know that the United States has announced to impose an import duty on China's $ 200 billion imported goods.
After this major move of the United States, there has been a threat of trade war between these two big economies of the world. Earlier, the US has twice raised import duty on Chinese goods worth $ 50 billion. In response, China has also raised import duty on some American goods. Following this move of the United States, China says that the decision of the Trump administration has created 'new uncertainty' about further talks between the two countries.
Faced with China's continuous growing domination in the world trade, the United States is now trying to control China by imposing heavy duty on imports. US president Donald Trump initiated the third round and imposed 10 percent duty on the imports of China’s $ 200 billion. By the end of this year, the duty could increase up to 25 percent.
It is not that this move of the United States has kept China quiet. China has said in its response that it is compelled to take similar measures against the US government’s new import duty. In the initial reaction, China has increased the import duty on US $ 60 billion of goods.
American President Donald Trump, who is known for his warm temper, has warned China that if they respond against the high import duty imposed by the US, then US will impose duty on China’s $ 267 billion imported goods. If this happens, then there would be duty on about all types of imports from China in US. For your information, let you know that China is exporting about US $ 522.9 billion goods to the US.
Indeed, US President Donald Trump has been pressurizing China to reduce trade deficit in trade with US. For your information, let you know that in the year 2017, the United States suffered $ 335.4 billion loss in trade with China.
The impact of trade warfare between US and China will be felt more in India's domestic financial markets. According to experts, this situation can be like the 2008 global financial crisis. At the same time, imposing duty on imports of China by the US will make some Indian products more competitive. According to an analysis, India should pay attention to machinery, electrical equipment, vehicles, transport parts, chemical, and plastic products in the US market.
The worst impact of this trade war will be on the Indian rupee, and it will become weaker against the US dollar, due to weak rupee, the import of crude oil will be expensive, which will increase the cost of petrol and diesel. This will increase the inflation in the country and the common people of the country will suffer due to this.
SEP 19 (WTN) - If you are thinking that petrol-diesel is going to be cheaper in the coming days, so you are probably thinking wrong. Prices of petrol and diesel are increasing in the country almost every day because of the weakening rupee against the US dollar and as the crude oil prices in the international market being hiked every day. In such a scenario, due to the 'trade war' between the two biggest economic countries of the world, America and China, the rupee will weaken in the coming days, so that the cost of oil will be increased further.
You must be wondering what this ‘trade war’ is after all. For your information, let you know that the world's two largest economies, the United States and China have started trading competitiveness by charging higher duty on imported goods in each other countries, which will affect the entire world economy, it is called 'trade war'. For your information, let you know that the United States has announced to impose an import duty on China's $ 200 billion imported goods.
After this major move of the United States, there has been a threat of trade war between these two big economies of the world. Earlier, the US has twice raised import duty on Chinese goods worth $ 50 billion. In response, China has also raised import duty on some American goods. Following this move of the United States, China says that the decision of the Trump administration has created 'new uncertainty' about further talks between the two countries.
Faced with China's continuous growing domination in the world trade, the United States is now trying to control China by imposing heavy duty on imports. US president Donald Trump initiated the third round and imposed 10 percent duty on the imports of China’s $ 200 billion. By the end of this year, the duty could increase up to 25 percent.
It is not that this move of the United States has kept China quiet. China has said in its response that it is compelled to take similar measures against the US government’s new import duty. In the initial reaction, China has increased the import duty on US $ 60 billion of goods.
American President Donald Trump, who is known for his warm temper, has warned China that if they respond against the high import duty imposed by the US, then US will impose duty on China’s $ 267 billion imported goods. If this happens, then there would be duty on about all types of imports from China in US. For your information, let you know that China is exporting about US $ 522.9 billion goods to the US.
Indeed, US President Donald Trump has been pressurizing China to reduce trade deficit in trade with US. For your information, let you know that in the year 2017, the United States suffered $ 335.4 billion loss in trade with China.
The impact of trade warfare between US and China will be felt more in India's domestic financial markets. According to experts, this situation can be like the 2008 global financial crisis. At the same time, imposing duty on imports of China by the US will make some Indian products more competitive. According to an analysis, India should pay attention to machinery, electrical equipment, vehicles, transport parts, chemical, and plastic products in the US market.
The worst impact of this trade war will be on the Indian rupee, and it will become weaker against the US dollar, due to weak rupee, the import of crude oil will be expensive, which will increase the cost of petrol and diesel. This will increase the inflation in the country and the common people of the country will suffer due to this.
