The Trump administration's new round of tariffs lack any economic rationale and represent pure "chaos" in international trade, according to an economics professor, who decried the bullying tactics adopted by the United States.
U.S. President Donald Trump imposed new tariffs on dozens of trading partners on Thursday which range from 10 to 41 percent, with the move threatening more turmoil on the global markets following a tumultuous period when he unveiled and then rolled back on his first major wave of so-called "reciprocal" tariffs back in April.
In an interview with the China Global Television Network (CGTN) on Wednesday, Yuqing Xing, professor of the National Graduate Institute for Policy Studies in Tokyo, questioned the U.S. administration's rationale in its latest trade measures.
"I don't see any kind of economic logic behind the tariff rates announced by the Trump administration repeatedly. The meaning of 'reciprocal, reciprocity', that basically means if Japan impose 10 percent tariffs on the United States, the U.S. has reason to impose 10 percent [tariffs of its own], this is called reciprocal [or] reciprocity. But now we don't have this so-called 'fair reciprocity', and what's even worse is that President Trump and his team always threaten his trading partners, that you have to accept what we announced, and you cannot retaliate. If you retaliate, the tariff will be even higher. So I don't see any kind of logic. I don't see any kind of reason. The only thing I see is the United States use its [domestic] buyer power to bully its trading partner," he said.
The professor also questioned the brazen nature of Trump's approach whcih undermines fair trade, and emphasized that all nations have the right to respond in kind.
"The United States is a sovereign country. It has a right to decide under what condition foreign goods can be sold in the United States, because trade rules governing foreign goods sold at home, it's part of sovereignty. But I think President Trump and his team should understand other countries, whether they are big and small, they have their sovereignty. Their sovereignty should be respected. So if you want to impose 25 percent tariffs, they have the right to impose 25 percent [tariffs] on American products. So you should not threaten them, there is no decency at all. So I think it's kind of chaotic. It's chaos," he said.
Trump's "chaotic" tariffs defy basic economic logic: economist
Trump's "chaotic" tariffs defy basic economic logic: economist
