U.S. tariffs backfire: the world rebalances toward China #CGTN

U.S. tariffs backfire: the world rebalances toward China
After U.S. President Donald Trump moved to raise a temporary blanket tariff on imports from all countries from 10 percent to 15 percent, global reactions are already unfolding. In a discussion with CGTN’s Tian Wei, John Quelch of Duke Kunshan University warned that tariff uncertainty is accelerating trade rebalancing. Meanwhile, Anthony Chan, former JPMorgan Chase chief economist, noted that countries from India and Canada to those in Latin America are quietly edging closer to China on trade.

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