Heinan – A prominent American economist characterized the trade war launched by President Donald Trump’s administration against China as a counterproduction strategy that negatively affects the United States.
“Well, I think the trade war is very self-destructive for the US. So I don’t think it will hinder China, but it will hurt the US,” the director of the ASIA (BFA) Center for Sustainable Development told the 2025 Tehran Times on Wednesday.
Professor Sachs said the tariffs Trump has imposed on China would damage the US economy.
“All of these tariffs the US is putting in will reduce the US competitiveness and lower the standard of living. I think it’s a self-destructive policy because it reduces confidence in the US economy,” the world-renowned US economist said after attending a discussion at the BFA panel.
President Trump’s trade dispute with China began when he returned to the White House on January 20th. Since then, he has charged 20% of China’s imports. In response, China has a duty of up to 15% on the range of US agricultural products.
On March 7, Chinese Foreign Minister Wang Yi said US restrictions on Beijing remained in vain.
“If there is lockdown, there is breakthrough. If there is oppression, there is innovation,” the Chinese diplomat said at a press conference held on the bystanders of the National People’s Assembly (NPC) Annual Session (NPC) in Beijing.
China is the most important market for American agricultural products. If prices of imported goods rise in China, consumers are expected to look for more cost-effective alternatives from either local suppliers or from other countries. This situation could pose challenges for US farmers as they could face a reduction in market share. This means that our farmers will bear the brunt of the effects of Trump’s trade war.
The trade dispute launched by the US President is being scrutinized at the 2025 BFA annual conference. The international event, which began on Tuesday, will continue until Friday under the theme of “Asia in a Changing World: Toward a Shared Future.”
There is a focus on how Asia can help navigate challenges and promote sustainable development, with participants recognizing the continent as the world’s growth engine.
According to Chinese media, this year’s annual conference brings together around 2,000 representatives from over 60 countries and regions, and over 1,100 journalists from nearly 150 media in 30 countries and regions.