US President Donald Trump's threat to impose tariffs worth 60 billion US dollars on China are a form of blackmail, not only against China but the whole world, Zhao Zhongxiu, vice president of the University of International Business and Economics, told CGTN. 

"This will damage the world economy. Not only will it affect trade, but it also has a very negative impact on the global value chains and production networks," Zhao said, in an interview following the China Development Forum. Regarding negotiations, Zhao said the tariffs were more of a threat than a deal and will have widespread implications, possibly damaging relationships with China and its neighbors.

Zhao was not alone in his negative view of the potential trade war. China-US relations was one of the hot topics at the China Development Forum in Beijing, which ran from March 24 to 26 under the theme of "China in the New Era.” Officials, business leaders and experts at the forum shared their thoughts on the planned US tariffs on China.

Heinrich Hiesinger, CEO of Thyssenkrupp, said Donald Trump had made the wrong statement by starting a trade war with China. "We consider the decision made by President Trump backward oriented. So I think it's the wrong statement, because free trade and global trade was beneficial for all the major countries, especially for China, Europe, Germany and the US,” Hiesinger said, when interviewed by a reporter at the China Development Forum.

In an interview with CGTN, Nicholas Lardy, a senior fellow from Peterson Institute for International Economics (PIIE), stated that there is no doubt the trade war sparked by Trump will be negative, and the US can’t gain from imposing tariffs.

Using consumer electronics as an example, Lardy said that consumers will pay more if a trade war ensues because many of the products are made in China. Moreover, the majority of consumer electronics will not shift production from China to the US simply because of tariffs.

Last week, Trump threatened to impose tariffs on Chinese imports worth 60 billion US dollars. China responded with plans to impose tariffs on 128 types of US imports, totaling an estimated 3 billion US dollars, while urging the US to show restraint. Both moves have sparked global fear of a potential trade war in the near future.