US-China trade war is about to spark

US-China trade war is around, the US is imposing import duties of 25 percent on steel, 10 percent on aluminum, the trade war is on since January 2018. The US has imposed 30 percent since duties on solar panels, 20 to 50 percent on washing machines.

Trump has gone one step ahead to withdraw US from trans pacific partnership, agreed to by Barak Obama was then president. Trump wants the US to relocate free trade area of North America with Canada and Mexico. The most important factor here in India is expected to move sensibly, not to take sides with either, remain neutral.

While China imports large quantities of Soybeans, Maize, and meat from the US, the farmers of America would be the big losers. US farmers are united and a force to reckon, may not take it easy. The US has a trade deficit of $375-US billion dollars. China buys aircraft from Boeing in big numbers. China may buy the same from Airbus as part of a trade war.

The US has brought suitable changes in its pharmaceuticals, film, music. China plans to retaliate selectively on US companies may be a set back to the US. China may impose non-tariff barriers on American banks, insurance companies, airlines and other service industries.

It is not good for a trade war between US and China.It will not only affect both the countries but also other countries equally. Good sense should prevail

 

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