On Wednesday, China announced its plan to impose additional tariffs on 50 billion U.S. dollars of imports from the Unites States, including soybeans, automobiles, and some chemical products.
The Ministry of Finance said China will impose a 25 percent tariff increase on 106 products imported from the United States, in addition to the increased tariffs...
"The direction of what the US government is doing, and that is to apply some pressure, use some leverage, to level the playing field is the right one, although I don't think tariffs is the best way to go," said William Zarit. chairman of the American Chamber of Commerce in China.
"I think it (trade war) will hurt both countries, and there would be collateral damage, I’m sure, in other markets. So a trade war, basically, everybody loses."
——William Zarit, chairman of the American Chamber of Commerce in China.
Capital Alpha Partners Senior Political Analysis James Lucier and American Chamber of Commerce in China Chairman William Zarit weigh in on President Trump’s trade tariffs and the possibility of a trade war with China.