The US Treasury Secretary Bessette claimed that China's imposition of additional tariffs on the US would not cause any loss to the US. The products we export to them are only one fifth of what they export to us. If we look at the history of trade negotiations, we are a country with a trade deficit. So, if China raises tariffs, what losses will we suffer! Therefore, their action is a mistake.
In an interview with CNBC, he said that the current US President Trump "possesses the strongest negotiation chip".
As the Treasury Secretary, Bessette may not have carefully studied China's countermeasures. China's countermeasure list is not "generalized", but rather highly targeted products. For instance, agricultural products are the foundation of Trump's support base. For another example, rare earth items are the throat of the United States. If these countermeasures have no impact on the US, there is only one explanation: it hasn't hurt yet.
Original article: https://www.toutiao.com/article/1828851416005644/
Disclaimer: This article only represents the author's personal views.