Ariana News Agency-\u00a0<\/strong><\/em><\/p>\n \u201cThe U.S. tariffs on China are economically hurting both countries,\u201d according to the report, which tries to measure the extent to which higher import taxes are causing a decline in trade between the world\u2019s two largest economies.<\/p>\n U.S. tariffs on Chinese goods have led to a more than 25% drop in the imports of those goods during the first half of the year, according to a new analysis by the United Nations Conference on Trade and Development. The UN says that actually \u201cshows the competitiveness of Chinese firms, which despite the substantial tariffs, were still able to maintain 75% of their exports to the U.S.\u201d<\/p>\n Meanwhile, American imports of Chinese products that didn\u2019t get the new tariffs stayed relatively stable and even increased in the second quarter of this year \u2014 probably the result of front-loading.<\/p>\n The paper also calculates that President Donald Trump\u2019s tariffs diverted trade amounting to about $21 billion for the first half of 2019, bringing \u201csubstantial benefits\u201d to a handful of non-combatants:<\/p>\n Taiwan\u2019s shipments to the U.S. rose almost $4.2 billion, which much of the increase tied to higher demand for office and communications equipment. Mexico\u2019s exports to the U.S. increased $3.5 billion, spurred by demand for food, transport equipment and electrical machinery. The European Union\u2019s exports gained $2.7 billion, largely due to demand for machinery. Vietnam\u2019s rose by $2.6 billion, concentrated in communications equipment and furniture.<\/p>\n The hardest hit product category is office machinery, imports of which have plunged 65%, according to the UN. Agriculture and food, communication equipment and precision instruments fell by more than 30%.<\/p>\n But the UN can\u2019t definitively answer the bigger question for politicians in Washington: What\u2019s been the effect on U.S. consumer prices? The analysis \u201cfinds implicit evidence that the cost of the tariffs has been generally passed down to U.S. consumers. However, it also finds some indication that Chinese firms may have only recently started to react to tariffs by reducing their export prices, thus absorbing part of the cost of the tariffs.\u201d<\/p>\n <\/p>\n <\/p>\n Confidence among euro-area industry executives is at the lowest since 2009 when it comes to exports in the months ahead, according to the European Commission. It\u2019s the latest sign that the regions\u2019s already-battered industrial sector has taken an additional hit from the looming threat of new U.S. tariffs and the lingering uncertainty over U.S.-China trade tensions.<\/p>\n <\/p>\n <\/p>\n An ultimatum | China is setting its price for signing an interim trade deal with the United States: ditch the tariffs. The question is whether Trump is willing to pay it. Not winning yet | Indonesia\u2019s textile industry is on the cusp of a new boom thanks to shifting global supply chains, a bright spot in a nation struggling to benefit from the U.S.-China trade war.<\/p>\n <\/p>\n <\/p>\n The U.S. is encouraged that Japan and South Korea are showing their first signs of a thaw in a yearlong feud that\u2019s disrupted exports between two of Asia\u2019s largest economies.<\/p>\n French connection | China and France vowed to uphold multilateralism and free trade and build an open global economy, as President Xi Jinping nears a phase one trade deal with the U.S. Emulating Trump | Prime Minister Narendra Modi is selling his refusal to join Asia\u2019s mega trade agreement as a victory for India\u2019s poor, borrowing a page from Trump\u2019s trade-war playbook.<\/p>\n <\/p>\n <\/p>\n Emerging markets scorecard | For many emerging markets, 2020 is looking slightly better than 2019. German rebound | Factory orders signal the economy\u2019s dip will be shallow and growth weak going into 2020.<\/p>\n","protected":false},"excerpt":{"rendered":" The UN just weighed in on who\u2019s winning the trade war between the U.S. and China. Neither one.<\/p>\n","protected":false},"author":2,"featured_media":4390,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_mat_hreflang_tags":[],"addvideo":"","video_duration":"","farsit":"","target":"0","top_stories":"0","top":"0"},"categories":[3],"tags":[124,577,47],"class_list":["post-4389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world","tag-china","tag-trade-war","tag-us"],"acf":{"myctype":"change","target":false,"top_stories":false,"top":false,"farsit":""},"yoast_head":"\nCharting the Trade War<\/strong><\/h2>\n
Today\u2019s Must Reads<\/strong><\/h2>\n
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