Just last month Pres. Trump let it be known that he would enforce tariffs on steel and aluminum……the first shots were fired in the new trade wars…..these will effect Americans in several ways….cost of cars and even their addictive sodas…..but what will Asia do in response?
The Bangkok Post had an op-ed on this situation……
Over the past five decades or so, Asia’s economies have relied largely on an export-oriented development model to support rapid economic transformation and growth. But with US President Donald Trump fulfilling…
In the past year, Mr Trump has withdrawn the US from the Trans-Pacific Partnership (TPP), renegotiated its free-trade agreement with South Korea, and raised “safeguard” tariffs on imported washing machines…
China has made it official that it will respond…it has notified the WTO of its intentions…..
The notification came in a WTO document that was dated last Thursday but posted only after the Easter public holidays.
It came after China said late on Sunday that it has increased tariffs by up to 25 per cent on 128 US products, escalating a dispute between the world’s biggest economies.
China has now fulfilled its legal duty to notify the WTO and other member states of its retaliatory measures.
The great Trade Wars of the 21st Century have begun….
This is the warning shot of the end of the “Pax Americana” (a bit melodramatic)…..do not know what that means then stay tuned for I will cover the “Pax” in an upcoming post.