What do you think for this trade war?
Lately, China and United State trade relationship has engaged in a trade war involving the increase of tariffs. On 5 May 2019, the US Precedent announced that US will increase tariffs on US$200 billion worth of Chinese products from 10% to 25%, and this will be effected on May 10 (China Briefing). However, on 10 May 2019 the first day of the 11th round of high-level trade talks, China and US did not reach a deal on the first day.
Trump had made his announcement that the increase of tariffs is certain and done because the Chinese side is “attempting to “renegotiate” the trade deal and is backsliding on commitments”. In response, China’s Ministry of Commerce release a statement announcing that it “deeply regrets” the tariffs and that “necessary countermeasures” will be taken (China Briefing).
In respond to 10 May 2019 announcement for the in crease of tariffs on Chinese products, On 13 May, China announced that tariffs will be increased on US$60 billion worth of US goods from 1 June 2019.
From my opinion and to be honest, neither China or US will be a winner. This trade war will only put effects not just the two countries as well as the people in the whole world. What do you think about the trade war lies between China and United State? What is the effect on cross-border eCommerce? Will this effects merchants expand their overseas trade channel?