New US tariffs will backfire, experts say

Qi Zhenhong, the head of the China Institute of International Studies, a government think tank, said US consumers will foot the bill for their government's unilateral tariff hikes targeting imported goods from China.

NEW tariffs by the United States on Chinese products will certainly backfire and hurt the US economy, but they will not tarnish China's resilience or dampen development in the long run, experts said on Sunday.

The comments came on the day the US administration imposed 15 percent additional tariffs on about half of another $300 billion of Chinese imports, marking the latest escalation in the ongoing trade dispute.