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Reply to "China Retaliates Against the U.S. With Its Own Higher Tariffs"
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[quote=Anonymous][quote]The United States may be feeling the pain of tariffs now, but they will hurt China in the longer term, said former Goldman Sachs CEO Lloyd Blankfein. “Tariffs might be an effective negotiating tool,” Blankfein said in a tweet Tuesday evening New York time. “Saying it hurts us misses the point. China relies more on trade and loses more.” In a separate tweet Tuesday, Blankfein said tariffs may cause U.S. buyers to switch their purchases to local or non-Chinese companies. Although that will cause the American side to pay slightly more than they do now, he pointed out that as a result, Chinese companies will lose revenues. “Not great but part of the process to assert pressure to level the playing field,” he said.[/quote] https://www.cnbc.com/2019/05/15/goldman-sachs-ex-ceo-blankfein-tariffs-may-hurt-us-china-loses-more.html[/quote]
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