Trump out to damage world trade system
Chinese Premier Li Keqiang has once again urged the US to adopt a rational approach to China-US trade dispute, as a trade war will be a lose-lose game for both sides. At a press conference on Tuesday, Li asked the US and China both to maintain the momentum of bilateral trade, which surpassed $580 billion last year.
On March 8, US President Donald Trump raised tariffs on imported steel and aluminum to 25 percent and 10 percent, inviting criticism both from home and the international community.
The Economist, for example, says that increases in steel and aluminum prices owing to these tariffs will, in the short run, create 33,000 metal-making jobs but destroy 179,000 metal-dependent ones. As the magazine said, Trump is thus "screwing over two Rose Bowls of people for the sake of one Fenway Park".
