Expert says additional tariffs on Chinese imports put US at a disadvantage
Source:Xinhua Published: 2019/8/12 17:59:19
The additional tariffs imposed by the United States on Chinese products would eventually put US producers at a disadvantage and undermine the global economy, said an expert.
Eric Mangunyi, a researcher at the Walter Sisulu University, in South Africa, said the direct tariffs imposed on Chinese imports used to produce other goods in the United States would lead to slower growth in the US economy because of a reduction in production.
According to Mangunyi, US businesses have already been hurt. He said the country is likely to see a depression of investments in various sub-sectors dependent on import goods.
"Furthermore, the world over, investments in countries will slow down and this would also 'shake' global business confidence," Mangunyi said. "This in general will have consequences that impact on overall economic growth of countries and the global economy."
Speaking of the recent decision by Washington to impose an additional 10 percent tariffs on 300 billion US dollars worth of Chinese imports, Mangunyi said it is obvious that the United States is trying to press China to make significant concessions on trade talks between the two countries while refusing to budge itself.
"The US is a bully and is not genuine in reaching a win-win trade deal with China," Mangunyi said, adding that the trade dispute featuring US flip-flopping would further hurt business and stifle the recovery of the global economy in 2019.
