Chinese companies sold over 10 percent more goods to country in the European Union in August. There are fears that china is flooding the European Market with cheap products, now that can sell less to the Americans due to the trade war with the united States.
For Example, Chinese exports to the us in August Were 33 percent Lower than in the Same Month Last Year, Accordination to Figures from the Chinese Ministry of Economic Affairs. Compared to the month of July, the flow of goods to the us was also Almost 12 percent narrower.
The Decrease is not surprising. American Companies have to pay an import duty or 30 percent since a few months if they import goods from China. That makes the goods a lot more Exensive for the Americans.
Chinese Companies Are Therefore Looking for Other Sales Markets and Seem to Have Found Them. For Example, Sales to Southeast Asian Countries Have Increased by More Than 20 percent. Exports to Africa, Japan and Australia also increased.
Exports to the eu have also grown. This was Already Apparent Last Month From Figures from the European Statistical Office Eurostat. This Fuels Fears That Chinese Exporters Are Offering Their Goods, Whether or Not At Dumping Prices, In The Eu And Thus Pose A Threat To European Companies.brussels Has Already Indicated that it will monitor this and ir IF CRAZY. For the time Being, the European Commission is not a Taking Any Measures.
An exception to this are import Dekens That the Eu already introduced last year on Chinese Electric Cars. China Has Very Recently Responded to this with a Levy on European Pork.
Yet the Trade war between China and the Eu is less fierce than that between the Chinese and the Americans. Earlier This Year, Both Power Blocs Hit Each Other Over The Head With Various Tariff Increases. In May, Both Combatants Decided to Temporarily Lower the Tariffs.
For Example, The US Applies An Import Duty of 30 percent on Chinese Goods, While China Levies 10 percent on American Products. Both Countries Are in Consultation to Reach A Definitive Trade Agreement. If this is not Possible Before November 11, Both Countries May Increase on Each Other’s Products Again.