China Focus: U.S. protectionism to hurt interests of its own

Source: Xinhua| 2018-04-06 21:20:03|Editor: Liangyu
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BEIJING, April 6 (Xinhua) -- As Donald Trump threatens to impose additional tariffs on imports from China, industrial insiders believe the U.S.-initiated tensions will hurt American consumers and companies.

Fujian RnJ Group is a food business founded by some American Chinese in 2012 in the eastern province of Fujian. William Ke, vice president of the company, said they import about 1.6 million U.S. dollars of products from Australia, New Zealand and the U.S. every month.

"There is no winner in a trade war, and the victims will be all the parties involved in the whole industrial chain," he said.

"If the cost of the American products rises, we will shift our imports to other countries which will be a blow to American manufacturers and farms," he said.

He noted that the U.S. trade deficits with China will be reduced as China opens up its markets.

"For example, the Boston lobsters are popular in China with the price now almost three times what it was 2012," he said. The Chinese market for American agricultural products is full of potential.

Li Jianguo, general manager of Datong Reciprocity Group, a valve producer also in Fujian, said about 20 percent of its products go to the United States.

"If the tariffs are put into practice, our business in the United States will definitely be affected," he said. "U.S. companies will also be harmed as some of our parts are imported from the U.S."

Shunmei Group, a Fujian porcelain producer in Fujian. works with companies such as Walmart, Disney and Coca-Cola.

Zheng Pengfei, general manager of Shunmei, said the interests of the American consumers will be inevitably damaged if the price of his products rise.

Guo Yunpei, chairman of Chinese Pharmaceutical Enterprises Association, said the proposed tariffs on pharmaceuticals will not affect the Chinese industry since it enjoys a huge domestic market.

"Some Chinese medicines are quite popular in the American market, and American buyers will have to pay more if the prices rise," he added.

Steven Carpenter, president of AmCham China's Central China Chapter, said he is disappointed in Trump and the U.S. government.

"I believe President Trump should follow the rules of the WTO and, if he believes that China is practicing unfair trade with the U.S. then let the WTO review the charges," he said.

"China has already agreed to follow WTO judgments. President Trump and the U.S. Government should follow China's lead and agree to accept the authority of the WTO judgments as well."

Trump's actions will not help generate any goodwill for American companies trying to do business in China, he added.