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[China Plus] Understanding Trump Tariffs: Globalization should be the solution

Wednesday,Aug 01, 2018

 

[Waching Online]

The Trump administration has been imposing punitive tariffs on 34 billion US dollars worth of Chinese imports as of July 6, 2018. Since then, China has taken retaliatory levies of the same amount to defend its interests. 

Statistics from the U.S. Census Bureau shows in 2017, the U.S. posted a $375.6 billion deficit in goods with China. Though the number is alarmingly huge, a Chinese expert points out the manufacturing products from China actually help keep the US inflation low for the last 15 to 20 years.

Noting the trade indifference, Dr. Wang Huiyao, president of the Center for China and Globalization(CCG), a think tank based in Beijing, says the issue has to be looked at on all fronts, rather than just on the amount of goods across the border.

 

From China Plus, 2018-7-16