Trade conflict: Speaking truth from facts

US President Donald Trump's unilateral and high-handed actions have soured China-US relations and almost ignited a trade war. On Tuesday, the Trump administration announced 25 percent tariffs on about $50 billion worth of Chinese exports to the US. This is in addition to the high tariffs he has already announced on Chinese imports under Section 301 of the Trade act of 1974.

First, Trump wants to punish China for the so-called damage caused by its alleged theft of US intellectual property and forced technology transfers. Second, his aim is to hamper China's efforts to upgrade its manufacturing sector. And third, it seems the US wants to shift the global value chain from China since the tariffs cover many typical global value chain goods such as electronics, telecommunications, machinery, and transportation equipment.

In response, China announced similar tariffs on some 106 US items worth $50 billion.