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Beijing, June 12, 2021 /PRNewswire/ – Tu Xinquan, Dean of China WTO Research Institute, University of International Business and Economics Beijing, Said: “By imposing tariffs on Chinese goods, the United States hopes to reduce its trade deficit with China. China, Transferring costs to Chinese exporters and forcing companies to move their supply chain activities out of China To the United States or other countries.
“But this expectation fell through, and soaring tariffs have damaged the ability of American companies, dragged down the development of the U.S. economy, and hurt the American people due to rising product prices and reduced job opportunities.”
Trade deficit with the U.S. China Tu cited a recent report by Moody’s Investors Service, a rating agency, saying that US companies were the first to be affected by higher tariffs on Chinese goods.
At the same time, due to the lack of better or cheaper alternatives, American consumers have to pay more for Chinese goods such as clothes, electronics, and furniture, and tariffs on Chinese intermediate products have increased the production costs of American companies. , Which harmed their interests. Ability, Tu said. He added that this has also led to higher inflation and reduced employment.
“China Last year, it surpassed the United States as the world’s largest foreign direct investment destination, indicating an attempt to force the withdrawal of supply chain activities China It’s all in vain,” Tu said.
Check out this video for more details: https://youtu.be/AEVADyYf2yU
View original content:http://www.prnewswire.com/news-releases/expert-tariff-warfare-against-china-is-futile-301311231.html
Source: China Daily
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