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As the US accounts for almost one-fifth of China's exports, or the equivalent of 3.6 percent of the country's GDP, large-scale additional tariffs could have a noticeable impact on China's economy and would have knock-on effects for the supply chain across the rest of Asia, said Andrew Fennell, director of the Sovereigns Department in Hong Kong of the global credit rating agency Fitch Ratings.
As you might have noticed, the U.S. and China have been locked in a trade war over the last year, driven by President Trump’s insistence that 17th-century economic theories are back in vogue. While both sides remain engaged in discussions, there’s no question that business relations have suffered quite a bit following the introduction of tariffs on Chinese goods by the U.S., followed of course by retaliatory tariffs from China.
As the epidemic issue has not been resolved, local governments should clarify protective measures for companies to restart operations. It should instruct enterprises to provide employees with necessary protection and offer enterprises with sufficient protective supplies.
As the top online retailer in the U.S., Amazon has become a key player in the COVID-19 outbreak that is driving a spike in online shopping as thousands of people avoid leaving their homes. The company is responsible for 38.7 percent of online sales in the U.S., according to eMarketer. Walmart is second with 5.3 percent.
As staunch supporters of free trade and multilateralism, China and European countries would bear the consequences of US trade protectionism if Trump topples the global order, experts have said.
来源：资阳报