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A Chinese economist called Trump's tariffs an attempt to bring production back to the United States.

Economist Leung: the duties imposed by Trump will not affect China
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American President Donald Trump is trying to bring production back to the United States by imposing tariffs on countries. Chinese economist Andrew Leung told Izvestia about this on April 3.

"And this is another plan of action for the near future — an attempt to return production to the United States. But this is unlikely to happen because all production chains in the United States were hollowed out decades later, and thus the American economy switched from manufacturing to financial services, using the hegemony of the US dollar," Leung said.

He also believes that Trump wants to "revive the golden age" of the United States, when American monopolies and oligarchs tried to revive the country by attracting financial flows. According to the expert, the American leader is striving to bring back jobs, but he did not take into account that many products are no longer produced in the United States. They have already been outsourced to other countries before.

"States cannot turn the other cheek and then throw their economic and financial future under the American pressure machine," Leung said.

Against the background of the imposed tariffs, other countries are already trying to introduce retaliatory measures. Leung argues that states are doing this to protect the economy. According to him, in order to avoid tariffs, some countries are looking for other sales areas, creating new trade partnerships or seeking to rebuild trade relations with China. Leung argues that this is related not only to economics, but also to international relations and geopolitical ties.

The expert also spoke about China's possible reaction to the tariffs imposed. In his opinion, they will not harm the country in any way.

"It [China] is focused on sustainability, on self-sufficiency, especially in the field of technology. Despite the stifling control over Chinese semiconductors and high—tech components, China has been very successful in responding to it, as exemplified technologically by [the country's] success in building the International space station, right from scratch," Leung stressed.

The day before, Trump announced that the United States would impose duties of 20% on goods from the European Union (EU), 34% on goods from the People's Republic of China (PRC) and a number of other countries.

Переведено сервисом «Яндекс Переводчик»

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