Trade Tariffs: USA and China at the centre of the conflict

For a long time, trade relations between the US and China have been strained. The situation has late worsened even more erstwhile China did not retreat from its retaliatory duties, which caused US president Donald Trump to decide to impose additional duties on imports from China. This decision is due to enter into force on Wednesday at midnight east American time, which means that in Poland it will be 6 am.

104 % duties are the consequence of an expanding trade conflict between the US and China. It all started with tariffs imposed by president Trump in February, which were 20 percent. China then responded by imposing its own 34 percent retaliatory duties, causing Trump to endanger to impose an additional 50 percent duty. Ultimately, after Beijing did not retreat from its duties, the president of the United States decided to implement his threat, which gives a full of 104 percent work on imports from China.

Consequences for Poland

Poland, as part of the European Union, will besides be affected by the US decision to impose duties. In our country, we will gotta face 20% of import duties from the US. This is not the only consequence – Poland as 1 of the EU's largest trading partners will besides feel the impact of tariffs imposed on China. It is worth noting that in 2022 the value of abroad trade in Poland from the USA amounted to over $12 billion, of which over 8 billion were imports.

Figures

* 104 percent – that's how much the duties on Chinese imports will increase
* 20 percent – that's how much more duties will increase on imports to Poland
* $12 billion – the value of abroad trade in Poland from the US in 2022
* $8 billion – U.S. import value to Poland in 2022
* 56 – Number of countries that will besides be affected by US duties

The Future of Commercial Relations

Unfortunately, there is no end to the trade conflict between the US and China in the close future. The decision to impose duties is the consequence of an disagreement between the 2 countries. On the another hand, Poland and the full European Union must face the consequences of this situation. It is worth noting that already now Poland's abroad trade with the US and China represents more than 20 percent of the full abroad trade of our country.

In this context, it is crucial that the Polish Government and the European Union take account of the situation and find solutions that minimise the negative effects of tariffs on the Polish economy. It is besides worth noting that in the long term, trade relations between Poland and the US and China may change, which could benefit our country.