Europe will gain from the US and China trade war

The European Union will benefit from the US and China’s trade war, claims director at the United Nations Conference on Trade and Development (UNCTAD). The export to the EU is estimated to gain 70 bln USD in trade.

editor: REMIX NEWS
via: pb.pl

“Our analysis proves that tariffs are not efficient in protecting state companies. They become instead important instruments to limit trade from a particular country,” said Pamela Coke-Hamilton, the Director of the Division of International Trade and Commodities at UNCTAD.

“The trade between the USA and China will drop and will be replaced by trade with other countries.”

From the 250 bln USD Chinese export to the USA with imposed duties, about 82 percent will be taken over by companies from other countries, about 12 percent will remain in Chinese entrepreneurships and 6 percent will go to American companies.

The trade between the USA and China will drop and will be replaced by trade with other countries

85 percent of the American export to China worth 85 bln USD will be taken over by foreign companies, about 10 percent will remain with American companies and 5 percent will go to Chinese companies. 

This data concerns all sectors, from machinery to woodwork, chemical and telecommunication equipment.

UNCTAD warns, however, that although some countries will see an increase in export, the trade war will damage the global economy. More countries may join the conflict, initiating protectionist policies. 

 


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