Source: CGTN    Published: 2019-8-24

Click to watch

China imposes new tariffs on $75 billion in U.S. imports, which is considered a retaliatory countermeasure from Beijing. This is following U.S. President Donald Trump's announcement of a 10-percent tariff on 300 billion dollars' worth of Chinese goods. Liu Zhiqin, a senior fellow at Chongyang Institute for Financial Studies, said the tariff war will not make America richer and America has to realize how it is hurting the world economy.

Liu Zhiqin is a senior fellow of the Chongyang Institute for Financial Studies at Renmin University of China.