Will Trump Unable to Trade War with China: Oleg Pendzin explains Economist

New duties in the United States on Chinese goods can be introduced in February. Economist Oleg Pendzin believes that the new US president is rocking the boat in which the whole world economy sits. The next day after inauguration, January 21, President Donald Trump warned that next week in the United States could be imposed duties on goods from China.

"This time, his goal was China, as Trump threatened to solve a wave of higher imports on imports from the second largest trading partner of America," CNN writes. According to the newspaper, Trump said he was considering the possibility of introducing 10% of the total duty on all Chinese goods from February 1.

Earlier (January 20), Trump threatened 25 % of Mita for Mexico and Canada, but separately from China, noting that former President Joe Biden had left great duties that Trump had introduced during his first administration. Interestingly, before the election, Donald Trump spoke about 60% of duties on all goods from China, but now his position is already softer.

Commenting on Trump's previous statements about 60% of duties, economist, executive director of the Economic Discussion Club Oleg Pendzin said: "In fact, he is going to start trade wars despite any restrictions on the world trade organization. We are waiting for serious trade wars with consequences for the world economy. " Speaking of quite large duties on Chinese goods, the expert expressed doubts that Trump would go by raising duties to 60%, which was announced before the election.

The reason is the banal dependence of the United States on a number of heading of Chinese production. "About China duties, from my point of view, Trump will not do so. I think it is a link to start talking to the PRC. Why? If this is introduced, a huge array of Chinese goods will simply disappear from the US market that It will simply understand the level of the presence of Chinese goods in the US market.