The government of the People's Republic of China continues reducing its investments in the public debt of the United States of America. In July of this year, Beijing withdrew almost 8 billion dollars from the US, a message posted on the website of the US Treasury said.
Source: Fotodom.ru/DP
Curiously, despite the reduction of its investments, China still remains the largest investor in the US public debt. At the moment, Beijing owns US bonds worth the total of $1.1 trillion. Japan comes second with $1 trillion. Ireland comes third on the list - the country holds US bonds worth $300 billion.
On September 18, US President Donald Trump announced the introduction of new tariffs on Chinese products worth $200 billion from September 24. Until the end of 2018, the tariff rate will be 10%, but it will grow to 25% in 2019. China responded with tariffs on American goods worth $60 billion with a tariff rate of 5% and 10%. USA's previous package of duties that was put in effect in August, embraced Chinese goods worth $16 billion with a tariff rate of 25%. China responded with tariffs on US goods totalling $34 billion.
Also read:
USA wants China to become backword, third world state
No comments :
Post a Comment