US Jobs, Economy To Be Hurt By Trade War

- Jul 09, 2018-

US experts have voiced deep concerns over the administration of US President Donald Trump's trade war against China, a war that they say violates WTO rules and will hurt US jobs and the nation's economy.

Trump fired the first shot on Friday by imposing punitive tariffs on $34 billion in imports from China. China quickly retaliated by levying tariffs on the same amount.

Gary Hufbauer, a nonresident senior fellow at the Peterson Institute for International Economics and deputy assistant secretary for international trade and investment policy at the US Treasury from 1977 to 1979, said "'bully' is the correct description" of what Trump has been doing to China, Canada, Mexico and other US trade partners.

Before levying tariffs on China, the Trump administration had imposed new tariffs on steel and aluminum in the name of national security, triggering retaliation from US trade partners as well as their complaints filed with the World Trade Organization. On Friday, China also lodged a WTO complaint against the latest US tariffs.