Trump likely to impose higher tariffs on Chinese goods
Baku, Azerbaijan, Nov.18
By Leman Zeynalova – Trend:
It is likely that as the US president, Donald Trump will impose higher tariffs on Chinese goods, Scott Kennedy, deputy director of the Freeman Chair in China Studies and director of the Project on Chinese Business and Political Economy at the Center for Strategic and International Studies, told Trend Nov.17.
But it is unclear through what mechanism, toward which products, and at what level will those tariffs imposed, according to the expert.
Kennedy pointed out that Trump has many different options at his disposal, and he will want to keep everyone guessing until his final decision.
“He also will have the flexibility to adjust the penalties over time in the event that China retaliates or makes concessions,” he added.
The expert noted that there’s no clear way to determine in advance what the effect will be on the US economy from greater US-China trade tensions.
“The view of those arguing for penalties is that under current circumstances, the US economy is already suffering, and that pressure needs to be applied in order to make the relationship fairer even if that means short-term suffering,” said Kennedy.
He believes that China could respond in many different ways, but it too has an interest in preserving the relationship, perhaps even more than the US.
During the election campaign, Trump said that “China is responsible for nearly half of our entire trade deficit,” and if elected president, he would impose tariffs up to 45 percent on imports from China.