Sputnik spoke with Pauline Loong, financial expert at Asia Analytical for more insight on the issue.
Sputnik: Do you think that the trade deals struck between the EU, China and Japan could make the US reconsider its tariffs and help avoid a global trade war?
Pauline Loong: Probably not. We are not talking about the US in a general sense; we are talking about the Trump administration.
The new tariffs aren’t just restricted to trade, I think the overall aim of the US administration is to move the economy back in to the past, with the model of the 20th century when there was coal and manufacturing. It’s bringing back the past as it were.
Sputnik: Will Trump’s tariffs end up being detrimental to the United States?
Pauline Loong: Something like this will be detrimental on all sides; but not just in dollars and cents. When you are dealing with other countries and other partners.
Uuncertainty might be a good thing for negotiating a one off commercial deal, it’s very bad in the long term. It will be negative all round.
The views and opinions expressed by Pauline Loong are those of the speaker and do not necessarily reflect the position of Sputnik.