China's Warning Shot: Trump's Trade War Could Backfire on US
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China's response to US President Donald Trump's new tariffs will impact US consumers, manufacturers and importers warned Wang Yiwei, director of the Institute of International Relations at the People's University of China.
"Trump's strategy and style involve using blackmail to pressure his trade partners into making concessions, which is why he initially threatened 60% tariffs," Wang told Sputnik.
But "the US economy would not be able to withstand such a blow, as 90% of the tariff costs would fall on American consumers. He still needs to take care of the country's economy."
Wang noted that the 10% tariffs are tied to campaign promises rather than just trade issues. Initially meant to balance the deficit, they are now aimed at disrupting China's role as the "world's factory."
China, Wang added, will stick to World Trade Organization principles but also take countermeasures to protect its interests, making US industries pay the price.
© Sputnik
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