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WTO Ruling Will Embolden US – Fineco Worldwide.

Todays Date: January 20, 2019

Fineco Worldwide: China will appeal against the WTO ruling that the US was within its right to impose levies.

“Fineco Worldwide” analysts believe that the World Trade Organization (WTO)’s recent ruling that the United States can continue to impose tariffs of up to 35% on imported Chinese tires will embolden the US in its dealing with China over both its renminbi and the huge trade balances that exist between the two countries.

“The ruling may be irrelevant now that China’s inflation numbers show that the authorities will have to raise interest rates sooner rather than later. The renminbi will almost certainly appreciate against the greenback and make Chinese exports more expensive in the US market” said one of the “Fineco Worldwide” analysts.

The US has sought to convince other nations to exert pressure on China over its trade balance with the world, but the tire dispute earlier this year was indicative of their frustration. The imposition of tariffs on Chinese tires was a shot Beijing’s bows which heightened tension between both nations.

“Fineco Worldwide” suggest that the Republican majority in Congress may employ a far more belligerent approach than the Obama administration towards to dealing Beijing. Such tactics are unlikely to exact the response the US seeks and could lead to greater tensions at a time when neither country can afford them.

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