In a potential report, UN told that India is one of the handful countries which can achieve a beneficial value from the ongoing trade war between the two top global economies – China and US. Since the US President Donald Trump enforced heavy tariffs on the imported steel and aluminum made items in March of the last year China and US are engaged in a trade war.
In a responsive way of America’s move, China also imposes tariffs of dollars worth on the American imports, as a form of tit-for-tat. The experts of the United Nations told that the tit-for-tat trade discord between US and China may do very small for providing protection on the domestic producers in either country and could have “massive” entanglement on the international economy until it is resolved.
The $250 billion in the Chinese exports which are the subject of US tariffs, only around six percent will be picked up by the US firms, as per the report by the UN Conference on the Trade and Development.
Almost $85 billion in the US exports that are subject of tariffs of China, only about five percent of this will be taken up by the Chinese firms, according to the research by UN.
In a bid for pacifying the demand of us to bring down the $375 billion bilateral trade deficit, China tied to take measures to cross the imports of American imports and the investments. For executing the measures the deadline has been fixed on 1st March in 2019.