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Trade war initial tariffs see US imports of Chinese goods slashed by 30pc
来源： 编辑：编辑部 发布：2018/11/13 09:58:06
STATISTICS from Swiss multinational investment bank UBS show US imports of Chinese goods listed in the initial US$34 billion of tariffs have fallen by 30 per cent, adding that it's too early to calculate the effect on an additional $200 billion of tariffs implemented on September 24.
Although the research shows that President Trump's tariffs on Chinese goods are having a material effect on US-China trade, UBS says the decline has been "sharp and unambiguous".
"The modest uptick in September data, however, gives us hope that the adjustment period for these imports has now drawn to an end," UBS said.
It was a similar story for products in the second tranche of tariffs on an additional US$16 billion worth of goods, which was implemented on August 23.
US imports of those products fell by 32 per cent in August and September. However, the figure is overstated because imports of those items jumped in July.
"The fall relative to the May levels is a more modest but still large 20 per cent," UBS said.
The results from the first round of tariffs raise an obvious question: what will happen to imports on the $US200 billion of additional tariffs that were implemented on September 24.
Because of the more recent time frame, UBS said it's too early to calculate what the negative effects are.
The analysts noted that imports of the goods in those tranches "accelerated sharply" in the three months prior to implementation.
However, not all of that would can be attributed to customers stocking up before the tariffs came into effect. For one thing, imports were already picking up in July - before the third tranche was announced.
The three-month increase was driven by US imports of tech devices - largely circuit boards and disk drives.
Looking at the key tech products, UBS said it's difficult to conclude whether the increase was due to a pre-tariff surge, or merely an extension of the broader trend growth for those products seen in recent years, according to New York's Business Insider.
Although the research shows that President Trump's tariffs on Chinese goods are having a material effect on US-China trade, UBS says the decline has been "sharp and unambiguous".
"The modest uptick in September data, however, gives us hope that the adjustment period for these imports has now drawn to an end," UBS said.
It was a similar story for products in the second tranche of tariffs on an additional US$16 billion worth of goods, which was implemented on August 23.
US imports of those products fell by 32 per cent in August and September. However, the figure is overstated because imports of those items jumped in July.
"The fall relative to the May levels is a more modest but still large 20 per cent," UBS said.
The results from the first round of tariffs raise an obvious question: what will happen to imports on the $US200 billion of additional tariffs that were implemented on September 24.
Because of the more recent time frame, UBS said it's too early to calculate what the negative effects are.
The analysts noted that imports of the goods in those tranches "accelerated sharply" in the three months prior to implementation.
However, not all of that would can be attributed to customers stocking up before the tariffs came into effect. For one thing, imports were already picking up in July - before the third tranche was announced.
The three-month increase was driven by US imports of tech devices - largely circuit boards and disk drives.
Looking at the key tech products, UBS said it's difficult to conclude whether the increase was due to a pre-tariff surge, or merely an extension of the broader trend growth for those products seen in recent years, according to New York's Business Insider.