1. LINE

      Text:AAAPrint
      Economy

      High tariffs on Chinese imports would weaken America: economists

      1
      2018-03-30 20:46Xinhua Editor: Wang Fan ECNS App Download

      As the U.S. administration has taken an increasingly hawkish turn on China, economists agree that the U.S. high tariffs plan on Chinese imports will backfire.

      "U.S. consumers will bear the costs of the Trump administration's tariffs on Chinese imports," said Justin Yifu Lin, dean of the Institute for New Structural Economics of Peking University, in a written article.

      As U.S. consumer demand for daily necessities will not change simply by raising the costs of imported products, the United States will either continue to import from China or it will import from Vietnam, India and Africa where goods prices are higher, and the result will be the same: the U.S. consumers would pay more for the same products, Lin explains.

      Thus, "the politically motivated imposition of high U.S. tariffs on imports from China would fly in the face of reciprocity, contradict the win-win principle of trade, and jeopardize the interests of U.S. voters," said Lin.

      Last Thursday, U.S. President Donald Trump signed a memorandum that could impose tariffs on up to 60 billion U.S. dollars of imports from China and restrictions on Chinese investment in the United States.

      In response to the U.S. tariff proposals, China's Ministry of Commerce announced last week that it was considering suspending tariff concessions on 128 categories of U.S. products worth 3 billion dollars, including pork, wine and seamless steel tubes.

      "Whereas the U.S. imports tens of thousands of Chinese products, China imports a narrow range of products from the U.S., such as soybeans, corn, computer chips, and aircraft. China's imposition of higher tariffs on imports from the U.S. would thus have a bigger impact on U.S. producers than vice versa," Lin said.

      Zhu Min, head of the National Institute of Financial Research at Tsinghua University, echoed, noting that a trade war between China and the U.S. will have potential repercussions on the global industrial chain and let the U.S. enterprises and consumers shoulder higher prices.

      Once a trade war starts, the cost, price and flow of commodities will all change, affecting an estimated 400 billion dollars or more of the global industrial chain, according to Zhu.

      "Now, with the U.S. abandoning free trade, China can take up the mantle of promoting it, thereby improving its image as a major power and demonstrating its commitment to global governance and development," Lin said.

        

      Related news

      MorePhoto

      Most popular in 24h

      MoreTop news

      MoreVideo

      News
      Politics
      Business
      Society
      Culture
      Military
      Sci-tech
      Entertainment
      Sports
      Odd
      Features
      Biz
      Economy
      Travel
      Travel News
      Travel Types
      Events
      Food
      Hotel
      Bar & Club
      Architecture
      Gallery
      Photo
      CNS Photo
      Video
      Video
      Learning Chinese
      Learn About China
      Social Chinese
      Business Chinese
      Buzz Words
      Bilingual
      Resources
      ECNS Wire
      Special Coverage
      Infographics
      Voices
      LINE
      Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.
      主站蜘蛛池模板: 青青草a免费线观a| 成人免费a级毛片| 老司机在线免费视频| 亚洲精品国产综合久久久久紧| a成人毛片免费观看| 99精品视频在线免费观看| 亚洲国产激情一区二区三区| 亚洲综合一区二区三区四区五区| 久久国产免费一区| 亚洲一区二区在线免费观看| www免费插插视频| 久久久久无码专区亚洲av| 九一在线完整视频免费观看| 亚洲人成欧美中文字幕| 免费国产黄线在线观看| 最近免费中文字幕mv在线电影| 亚洲真人无码永久在线| 高潮内射免费看片| 亚洲中文字幕无码久久2017| 永久免费毛片手机版在线看| 亚洲成a人无码亚洲成www牛牛| 亚洲天堂男人天堂| 永久免费毛片在线播放| 亚洲精品黄色视频在线观看免费资源| xvideos亚洲永久网址| 久久这里只精品国产免费10| a级在线免费观看| 免费播放一区二区三区| 久久久久久国产a免费观看黄色大片| 久久久精品免费国产四虎| 亚洲免费福利视频| 免费萌白酱国产一区二区| 无码人妻一区二区三区免费n鬼沢| 精品亚洲AV无码一区二区三区 | 国产高清免费在线| 性色午夜视频免费男人的天堂| www视频免费看| 中文字幕av免费专区| 日韩少妇内射免费播放| 亚洲国产熟亚洲女视频| 亚洲国产成人久久三区|