China’s response to US secondary sanctions could paralyze the American economy — Sachs
The expert recalled that following the initial hike in tariffs against China, Washington’s tariff policy was short-lived, as Beijing responded with a firm "no," threatening to cut off supplies of rare earth metals
SHANGHAI, July 22. /TASS/. China could deal a serious blow to the American economy in response to potential US secondary sanctions imposed under the pretext of its trade with Russia, Professor Jeffrey Sachs, Director of the Center for Sustainable Development at Columbia University, said in an interview with TASS.
"I don't think the threats mean very much. I think that if the United States were to try to apply such so-called secondary sanctions, China would respond in a way that would basically stop the US economy," he said, commenting on Washington’s intention to introduce tariffs against Moscow and its trading partners.
The expert questioned the United States’ ability to enforce such unilateral restrictions. He recalled that following the initial hike in tariffs against China, Washington’s tariff policy was short-lived, as Beijing responded with a firm "no," threatening to cut off supplies of rare earth metals.
"The US cannot impose such penalties. The rest of the world will just say ‘You're on your own. We don't need to trade with you. We'll trade with each other.’ … So, I don't believe that this [the imposition of secondary sanctions - TASS] is going to happen," he noted.
On July 14, US President Donald Trump announced his decision to continue providing weapons and military equipment to Kiev, provided that Europe pays for such deliveries. NATO will be responsible for coordinating this process. The White House chief stated that the United States would impose import tariffs of approximately 100% on Russia and its trading partners if Washington and Moscow fail to reach an agreement on a settlement in Ukraine within 50 days. US Treasury Secretary Scott Bessent later clarified that the United States would urge its European allies to follow Washington’s lead should it introduce 100% tariffs on buyers of Russian oil.