The Big Picture - Trade War Begins

Punishing U.S. tariffs on Chinese imports took effect today, marking the start of President Donald Trump's trade war with the largest American trading partner and intensifying the anxieties of global industry. Beijing said it was "forced to take necessary countermeasures" after Trump imposed 25 per cent duties on about USD 34 billion in Chinese machinery, electronics and high-tech equipment including autos, computer hard drives and LEDs. China was expected to respond dollar-for-dollar but did not immediately release details of the countermeasures, which were expected mainly to target agricultural products in a bid to hurt Trump supporters. Beijing accused Washington of launching "the largest trade war in economic history" and vowed to take the case to the World Trade Organisation. But it could just be the opening skirmishes in the war, as Trump has vowed to impose tariffs on as much as USD 450 billion in Chinese goods, the vast majority of imports. On this edition of ‘The Big Picture’ we take a closer look at the all-out trade battle between the two nations.

Guests: Prof. B.R. Deepak, Centre of Chinese Studies, JNU,
Ashok Sajjanhar, Former Diplomat,
Ajay Dua, Former Secretary, Ministry of Commerce & Industry,

Anchor - Frank Rausan Pereira