With financial markets and mid-world states threatened by a possible new recession, the US and China have decided to resume a trade war of unforeseeable consequences . Although Trump had postponed the imposition of new tariffs on Chinese products worth 300,000 million euros in December, the Xi Jimping regime said yesterday that starting September 1, products imported from the United States will be taxed with new rates, between 5% and 25%, which could mean an estimated cost for US companies of 75,000 million. Among the imminently affected products is oil, which will be subject to a 10% rate and, since mid-December, US cars, with 25%.

It is true that the challenge of the communist regime poses a serious threat to the US economy, but President Trump's response came, as at other times, in a torrential way, little thought and through social networks. Calling for hundreds of North American companies to leave the Asian country to look for new production sites is an absolutely meaningless exit that only adds fuel to a fire in which we all have much to lose. Instead, the US should abandon the aggressive and ultra-protectionist policy initiated since Trump's arrival. As much as the US president insists, globalization is irreversible , so that continuing the flight forward that this commercial and financial war entails will not only affect both powers, but will have negative repercussions on the economies of the rest of the world. Trump, however, acts pending his short-term interests. Therefore, few were surprised yesterday when he turned to the insults to disqualify Jerome Powell , president of the Federal Reserve (Fed). Powell was cautious and left in the air the question of whether or not to lower interest rates in September, as he did in July. To the anger of Trump, who compared him to Xi Jimping - "who is our greatest enemy?", He wondered yesterday on Twitter - Powell argues that with controlled inflation, an almost non-existent unemployment rate and an economy growing at 2% Lowering interest rates preventively could be detrimental to the country's financial stability. But Trump, who only thinks about presidential elections next year, does not want to risk jeopardizing his possible re-election because of a slowdown in economic growth, because he also knows that protectionist policies have a fairly limited scope .

The regrowth of the commercial war was received yesterday with a drop in the main international exchanges and introduced a new element of commercial tension a day before the G-7 meeting in Biarritz. The meeting that begins today is expected to be convulsed and will be focused on irresponsible American politics. Hopefully, Trump won't solve it with a move, as happened at the last summit.

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