Expert analyses China's trade tariffs standoff with US

(21 Jun 2018) China on Thursday accused the United States of using bullying tactics and blackmail in threatening to impose tariffs on hundreds of billions of US dollars of Chinese imports. According to a Commerce Ministry spokesman, the US was damaging the global trading order and its methods would harm its own business interests, as well as those of trading partners. Economists note that the US global trade deficit started to balloon several years before China's surplus started to surge, suggesting the reason behind the imbalance lies somewhere other than China. US President Donald Trump's thinking on trade is largely misguided, according to Yukon Huang, senior fellow in the Asia programme at the Carnegie Endowment for International Peace. He believes the trade war has come about due to "faulty assumptions." Trump has ordered 25 percent tariffs on 50 billion US dollars in Chinese goods in response to Beijing's forced transfer of US technology and alleged intellectual property theft, and threatened to impose duties on 400 billion US dollars more in Chinese products. All told, the scope of the tariffs would be equivalent to 90 percent of the goods that China shipped to the United States last year. Trump's order of 25 percent tariffs, which are set to take effect on 6 July, were quickly matched by Beijing on US goods exported to China. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter: https://twitter.com/AP_Archive Facebook: https://www.facebook.com/APArchives Google+: https://plus.google.com/b/102011028589719587178/+APArchive​ Tumblr: https://aparchives.tumblr.com/​​ Instagram: https://www.instagram.com/APNews/ You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/58deca5546960c01c58dcd5a238ca9cd