China-U.S. trade benefits from cooperation, loses from confrontation
The China-U.S. trade war is escalating, as shown by the United States Trade Representative (USTR) announcing the next steps in the process of imposing an additional tariff of 10 percent on approximately 300 billion U.S. dollars of Chinese imports. In response to the announcement, the Customs Tariff Commission of the State Council warned on Thursday that China will take necessary countermeasures if USTR imposes 10-percent tariffs on the remaining 300 billion U.S. dollars' worth of Chinese goods. "In this area, China will never give any compromise because this is not fair, or reciprocal, in trade or exchanges between the two sides. The countermeasures by the Chinese government will continue its momentum to show the determination," said Teng Jianqun, director of the Department for American Studies and a senior research fellow at the California Institute of Integral Studies. Teng also said it is dangerous that unilateralism and protectionism have become the dominant policies of the U.S. government.