The United States provoked a trade war, and China strongly countered that US soybeans fell by 18% in February.

　　Cctv newsAt 12: 01 Beijing time on the 6th, the United States imposed a 25% tariff on $34 billion of China goods, which provoked the largest trade war in economic history so far. China was forced to fight back, and at the same time imposed a 25% import tariff on American goods of the same size.

　　Experts on international issues believe that the trade war unilaterally provoked by the United States is essentially a contest between multilateralism and unilateralism. It is legitimate and firm for China to take necessary measures to defend its own interests.

　　China’s position is justified and firm.

　　Ruan Zongze, Executive Vice President of China Institute of International StudiesFirst of all, the United States is the initiator, China is the counterpart, and the United States is imposing this trade war on China. So for China, we should take necessary measures to safeguard the national interests and the interests of the people. China has always insisted on resolving the differences between the two sides through negotiation and consultation, and has also shown great sincerity and enthusiasm. But now the United States has lost its rationality and reneged on its words, provoking this trade war, and China has taken firm and effective measures.

　　Experts believe that the escalation of this round of Sino-US trade dispute into a trade war indicates that the game between China and the United States in the economic and trade field will be long-term in the future. But there is no winner in such a game.

　　Ruan Zongze, Executive Vice President of China Institute of International StudiesThe essence of this trade war is a contest between multilateralism and unilateralism, and a contest between free trade and protectionism. Then, by doing so, the United States is actually firing at the whole world and shooting itself in the foot. Therefore, China stands on the side of justice, while the US stands on the wrong side of history. Therefore, in the long run, China is confident that the international community is equally confident that it can curb the unilateralism and protectionism of the United States and jointly safeguard the healthy and stable development of the international multilateral trading system.

　　Sue the United States for 301 tax measures at the WTO.

　　In addition to initiating countermeasures, China also resorted to the dispute settlement mechanism of the World Trade Organization. According to the Ministry of Commerce, on July 6th, China filed an additional lawsuit in the WTO against the taxation measures formally implemented under the "301 investigation" of the United States against China.

　　The so-called "301 investigation" means that the Office of the United States Trade Representative launched an investigation into the trade practices of other countries that it considered "unfair" in accordance with Article 301 of the Trade Act of 1974, and finally the President decided to take retaliatory measures such as raising tariffs and restricting imports.

　　On the 6th, the US government imposed tariffs on China’s $34 billion imports, which was based on the unilateral determination of the "301 investigation".

　　What is the Sino-US trade war "hitting"?

　　In response to the US$ 34 billion tax increase list, China has also put forward a counter-list of the same scale, which goods are specifically included.

　　The United States versus China: 818 commodities, mainly concentrated in high-tech fields such as aerospace, information technology, auto parts and medical devices.

　　China to the United States: 545 commodities, mainly involving high-value American export commodities such as soybeans, automobiles and aquatic products, and aimed at the traditional advantageous industries of the United States.

　　China’s counter-US steel soybeans were the first to be hit.

　　American trade tariffs on China and China’s counter tariffs have impacted many industries in the United States. The first is steel.

　　Tariffs imposed by the United States and Canada caused domestic steel prices to rise by 40%

　　At the beginning of this year, after the United States announced that it would impose a 25% tariff on steel produced in China, the price of steel in new york Commodity Exchange soared all the way. By July 3, it had exceeded $900 per ton, with a 40% increase during the year, which was the highest point in ten years. At present, steel prices in the United States are 50% more expensive than those in Europe and China.

　　80,000 steel workers benefited and 900,000 workers were damaged.

　　This truth is actually not complicated. Tariffs make steel imported from China more expensive, and some American enterprises decide not to import from China, but to import from Mexican and Canadian regions with higher prices. This has pushed up the price.

　　China countered US soybeans and fell 18% in February.

　　The data shows that American farmers, especially soybean farmers, may also suffer. In 2017, more than 60% of soybeans produced in the United States were sold to China. China’s counter-measures against US soybean exports have caused the volume and price of US soybean exports to fall to a certain extent. Let’s see, from May to early July, the US soybean price dropped from $10.5 to $8.5 during this period, falling to the lowest point this year, with a drop of 18%. According to data from the US Department of Agriculture, the number of US soybeans exported to China also fell by 21% in the first five months of this year.

　　What seems to be a blow to China actually hurts global trade.

　　In addition, the affected industries include automobiles, machinery manufacturing and airplanes. The trade offensive launched by the American media against the White House does not seem to catch a cold. The title of Time Magazine is "Why Trump’s trade war with China is so dangerous". The article points out that China’s exports to the United States include parts and semi-finished products from all parts of the world. Today, when the global industrial chain is highly interdependent, the White House seems to attack China, but it actually harms global trade.

　　The trade war has caused the recent sharp fluctuations in the US stock market.

　　The New York Times’s title is "Why the trade war with China is not easy to win". The article points out that the trade war is a lose-lose. Looking at the recent sharp fluctuations in the US stock market, we can understand that the financial market does not like trade confrontation.

　　American agricultural product operators are worried about losing the China market.

　　In the midwest of the United States, which is dominated by agricultural production, some local insiders said that the US government’s practice of provoking a trade war with China would make farmers and cheese producers the first victims.

　　Wisconsin Cheese Manufacturers Association is located in Madison, Wisconsin, which brings together more than 600 cheese production companies. John Emhoffer is the president of the association. On the morning of the 6th, he was holding an emergency conference call with the members. John told reporters that the United States has repeatedly imposed tariffs on many countries, which makes local farmers and cheese producers feel uneasy. At present, the US government has provoked economic and trade frictions with China. China is the third largest dairy export market in Wisconsin, and people are worried that once the China market is lost, it will undoubtedly bring a serious blow to local farmers.

　　John told reporters that in the past three years, the persistently low milk price has made many dairy farms make ends meet. According to statistics, about 150 farms have stopped raising cows so far this year. John said that farmers and cheese producers in Wisconsin value the China market, and they don’t want the United States to provoke economic and trade frictions, which will eventually make the majority of American farm operators out of the China market.