Home > economy Channel >                 text

People's Daily Bell: Don't be enchanted by the "victory" of self-deception - "adding tariffs to favorable interests" can rest

May 15, 2019 02:05
Author: bell
source: People's daily

Oriental Fortune APP

  • Convenient
  • Mobile phone viewing financial news
  • Professional, rich
  • Master the pulse of the market

Read articles on your phone

  • prompt:
  • WeChat sweep
  • Share it with you
  • Circle of friends
Summary
[People’s Daily Bell: Don’t be enchanted by the “victory” of self-deception” – “Additional Tariffs” can be rested on the occasion of the eleventh round of China-US high-level economic and trade consultations, the US announced that it will be worth 200 billion US dollars. The tariff on the import of goods exported to the United States has been raised from 10% to 25%, which has caused serious setbacks in the Sino-US economic and trade consultation process. The US side has even simultaneously thrown a "additional tariff advantage theory" to cover up the serious impact of this move on the US economy. As everyone knows, the American people do not buy this account, and the voice of strong opposition to the increase of tariffs is first sent from the United States. It should be noted that the singer "adding tariffs to favorable interests" is just deceiving itself. Trying to solve the Sino-US trade friction problem by increasing tariffs or threatening to raise tariffs is completely wrong. The bet on the tariff will inevitably lead to a happy occasion. We advise that if the US has enough wisdom to guarantee its own interests, it should choose to go hand in hand with the Chinese side and solve the problem through consultation on the basis of mutual respect, equality and mutual benefit. (People's Daily)

On the occasion of the eleventh round of high-level Sino-US economic and trade consultations, the US announced that it would raise the tariff of 200 billion US dollars worth of Chinese exports to the United States from 10% to 25%, which caused serious setbacks in the Sino-US economic and trade consultation process. The US side has even simultaneously thrown a "additional tariff advantage theory" to cover up the serious impact of this move on the US economy. As everyone knows, the American people do not buy this account, and the voice of strong opposition to the increase of tariffs is first sent from the United States.

Is it a kind of ignorance or a disguise?

From last year’s “trade war is very good”, and now it is constantly proclaiming that “China is paying huge tariffs to the United States... these huge taxes will be directly handed over to the US Treasury.” “Tarms will bring more wealth to our country, even More than the traditional type of amazing trading. In addition, it is easier and faster. "China will greatly slow down, we will automatically accelerate" ... In the eyes of some US officials, the tariffs added seem to be the pies falling from the sky, It takes no effort at all; the addition of tariffs will only weaken the opponent and will not be unscathed. Some people continue to make illusions, as if the US economy is thriving because of tariffs. Borrowing the evaluation of the international media, this is just another example of the US's willingness to create victory from the air.

According to a research paper published by the National Bureau of Economic Research, the tariffs imposed by the United States on its trading partners in 2018 and the retaliatory tariffs imposed on the United States by the other country have caused the US economy to lose $7.8 billion. Tariffs cause US consumers and producers to bear an annual cost of $68.8 billion. According to a study by the US business consulting firm Global Trade Partnership, a 25% tariff on US$250 billion worth of Chinese exports to the US, as well as tariffs on imported steel and aluminum products, will result in a reduction of 934,000 jobs per year in the United States. post. A recent report by the Financial Times pointed out that the United States is disappointed by the fact that the United States is willing to impose higher tariffs on Chinese exports to the United States rather than reaching an agreement to end the US-China trade war.

The US "adding tariffs to favorable interests" imagines a situation in which the addition of tariffs is equivalent to taking money from China's pockets, and some people in the United States are taking profits. However, the fact is another scenario: US importers and retailers have limited ability to digest tariffs, and tariff increases will inevitably be reflected in the final consumer spending. The US government is counting on companies to find alternative sources of imports, but many American business owners can only shrug their shoulders and spread their hands: Chinese goods are cheap and can only be sourced from China, and the increased costs can only be transferred to consumers. . New York Federal ReservebankEconomists at Princeton University and Columbia University found that the addition of tariffs caused US consumers and importers to lose $4.4 billion per month last year. The tariffs collected by the United States "are not enough to make up for the losses suffered by consumers who buy imported goods." ". When the money in the pockets of American consumers is taken out, it is claimed that the green money of the US dollar has fallen, but the wallet of American consumers has collapsed. Can people buy it?

In today's world, no one can do whatever they want. The United States wants to impose tariffs on others. Others cannot be indifferent and must carry out counter-measures. The pain caused by the addition of tariffs to the United States is obvious. Many American farmers are experiencing "difficult economic moments." The US government announced last year that it would issue $12 billion in agricultural subsidies, but it is just a drop in the bucket compared to the losses caused by rising production costs and reduced exports. "We can't stop it," and many American farmers and business owners have made such a call. “In the past 10 months, the United States, not China, has been paying the full price for the trade war.” The lobbying group representing more than 150 retail, technology, manufacturing and agricultural trade organizations in the United States “tariff hurts the US hinterland” said in a statement recently. “Improving tariffs will only punish American farmers, businesses and consumers.” However, US policymakers have so far turned a deaf ear to these calls.

It should be noted that the singer "adding tariffs to favorable interests" is just deceiving itself. Trying to solve the Sino-US trade friction problem by increasing tariffs or threatening to raise tariffs is completely wrong. The bet on the tariff will inevitably lead to a happy occasion. We advise that if the US has enough wisdom to guarantee its own interests, it should choose to go hand in hand with the Chinese side and solve the problem through consultation on the basis of mutual respect, equality and mutual benefit.

  Related reports>>

  China decided to increase tariff rates on some imported goods originating in the United States

  Analysis Review>>

  People's Daily: The Country of Gentlemen

  CCTV Quick Comment: Where does the Chinese economy come from?

  Xinhua International Review: "Removing the Wall" and "Building a Wall" highlights American bullying

  Xinhua commentary: dark psychology strange logic!

(Article source: People's Daily)

                (Editor: DF372)

you might be interested
  • News
  • stock
  • global
  • Hong Kong stocks
  • US stocks
  • futures
  • Foreign exchange
  • life
    click to see more
    No more recommendations
    • name
    • Latest price
    • Quote change
    • Hand turnover rate
    • Capital inflow
    Please download Oriental Fortune products to view real-time quotes and more data.
    Click ranking
    Solemnly declare:Oriental Fortune.com publishes this information in order to disseminate more information and has nothing to do with the position of this website. Oriental Fortune Network does not guarantee the accuracy, authenticity, completeness, validity, timeliness, originality, etc. of all or part of this information (including but not limited to text, data and graphics). The relevant information has not been confirmed by this website, and does not constitute any investment advice for you. According to this operation, the risk is at your own risk.