Following the US decision to implement tariffs of up to 25% on 1,333 Chinese products, China announced its decision to also impose tariffs of up to 25% on 128 US imports (including pork and wine), worth approximately US$3 billion in value.
For BBC Radio 4, Chris Southworth, International Chamber of Commerce (ICC) Secretary General argues that such protectionist policies are not only adding to globally uncertainty, but also stalling discussions at the WTO – with particular implications for the UK who must forge fast trade deals following Brexit.
In addition, Southworth argues that the largest effects of the tariffs will not be felt by big business but rather by consumers, and smaller companies – in the US, China and beyond. For Southworth “no one benefits from a trade war”.
The full interview can be found on BBC Radio 4 here.