The White House on Thursday announced a plan for imposing tariffs on Chinese imports to the United States and curtailing Chinese investment in the U.S. Ostensibly aimed at protecting American industries and striking out at trade practices the administration deems unfair, CEI Senior Fellow Marc Scribner warns that tariffs will backfire.
“China is likely to retaliate and will likely be able to do so legitimately through the World Trade Organization,” said Scribner. “President Trump’s latest unilateral tariffs were poorly conceived, will make Americans poorer, alienate foreign allies, and further strengthen China’s trade position in the Pacific.”
The president directed U.S. Trade Representative Robert E. Lighthizer to announce, within the next two weeks, a proposed list of products set for tariff increases. That list will be subject to a public comment period and then finalized.