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Fears related to the definitions that affected the Chinese economy were exaggerated. The new customs data indicate that China has published a record 683.5 billion dollars of trade surplus on the basis of a year to date, with July exports by 7.2 %, before economists’ expectations.
Away from the erosion of Beijing’s global influence, the latest figures indicate that the definitions may not have an intended impact. On an annual basis, exports to the United States decreased by 21.7 % in July and 16 % in June-an improvement in a decrease of 34.5 % in May-where some companies moved to securing inventory before the expiration of the tariff truce for 90 days on August 12. A temporary pause of a series of escalating commercial scale followed, including US departments of 245 % of 245 of the retirement. Although both sides agreed to suspend additional increases to allow negotiations, the Trump administration is temporarily centrally central. One day before the deadline in August, a 90 -day extension was announced, which was now appointed on November 10.
Increasingly, data shows that customs tariffs can be the orientation of capital flowing to China rather than transferring it. The Trump administration’s decision to impose fees on almost all countries have encouraged these countries to develop closer trade relations with Beijing. Some analysts also speculate that transporting goods across Southeast Asian countries can be a playing factor.
“This indicates that the customs tariff is unlikely to change the economic reality that the United States relies on imports and China on exports,” says Yan Liang, a professor of economics at Kremmer at Williamit University. “Even if direct exports from China to the United States decrease due to the definitions, China’s exports to other countries, including Asia and the European Union, have increased enough to make up for the decline. At the same time, imports from other countries from other countries are likely to rise, not only as a result of a simple gray novel, but also because many imports in the global supply chain where China plays a major role.”
Ultimately, Liang argues that Trump’s identification crusade can have counterproductive. “The United States is unlikely that it can quickly replace home production of imports, given the lack of productive capabilities (infrastructure, employment, supply chain, etc.). Thus, the decrease in total imports will most likely come from low demand, which is not good for the economy.”
