国产精品99一区二区三_免费中文日韩_国产在线精品一区二区_日本成人手机在线

High tariffs on Chinese imports would weaken America: economists

Source: Xinhua| 2018-03-30 18:43:31|Editor: Lu Hui
Video PlayerClose

BEIJING, March 30 (Xinhua) -- 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.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011102351370775541
主站蜘蛛池模板: 文成县| 菏泽市| 天水市| 齐河县| 自治县| 牡丹江市| 库车县| 新绛县| 秀山| 银川市| 深圳市| 海盐县| 县级市| 资中县| 沅江市| 井研县| 南部县| 福泉市| 东兰县| 雷州市| 民丰县| 芮城县| 赫章县| 宁明县| 盐源县| 垫江县| 安图县| 雅安市| 山西省| 乌恰县| 祁门县| 慈利县| 枣强县| 宝坻区| 油尖旺区| 临夏市| 新余市| 金门县| 阳春市| 平阴县| 财经|