Dmitry Kuznetsov on China's reaction to the imposition of US duties on imports
Dmitry Kuznetsov, a Researcher, International Trade Department at the Gaidar Institute, noted in the RT publication that China has reacted extremely cautiously to the imposition of US duties on Chinese imports.
«The listed products constitute a very small share of China’s imports from the United States. Moreover, coal, LNG and oil are homogeneous exchange commodities that can be replaced rather easily by supplies from other countries. Therefore, on the one hand, Beijing has shown that it is ready to respond to Washington’s trade aggression, and on the other hand, it has minimized the consequences for its economy," the expert explained.
On the whole, according to Kuznetsov, mutual imposition of duties announced by the US and China will not produce catastrophic outcomes for both countries. Nevertheless, in the long term, tariff restrictions will still have a negative impact on the economies.
«The US and the PRC already have the experience of the 2018 trade war. Although the effects were noticeable in certain sectors, these effects cannot be called significant for the economy as a whole. The United States and China are the two largest economies in the world, and therefore they are very likely to have producers to replace the falling import volumes. Losses in efficiency are, obviously, inevitable, but this is mostly a
Tuesday, 04.02.2025