The American Finance Minister said Monday that he did not fear “immediately” to see empty shelves in the United States due to prohibitive customs tasks aimed at Chinese products. The first two world economic powers are dedicated to a commercial war, caused by the white house tenant. Donald Trump imposed customs duties of 145% in most Chinese products entering the US territory. Beijing represents the creation of his own customs of 125% of customs in American products.
The American Finance Minister Scott Besent, said on several occasions last week that he considered “unsustainable” the current level of customs duties with China, which in fact creates a reciprocal “embargo” in exchanges. The United States generally imports mass components for its own manufactured products, but also common products: shoes, clothing, strollers, household items …
Anticipation orders and then replacement products
When asked Monday to find out if he was afraid to see empty shelves, the Treasury Secretary replied “not immediately.” “We have excellent distributors. I suppose they have ordered beforehand (…). I think there will be substitutions, and then it will depend on the speed at which the Chinese will get involved in a decalcalation,” said Scott Besent in Fox News.
“They sell five more times with us that we do not sell at home, we are essential for their economic model. Selling cheap products, subsidized in the United States is crucial for their economy,” he said.
Beijing regularly promises to carry out the commercial war “until the end” if Washington continues its customs measures. However, China admitted on Monday that the commercial storm launched by Donald Trump has repercussions on its economy, which continues to depend a lot on exports.
Source: BFM TV
