China, US on the verge of waging Trade War. Get ready to be ‘collateral damage’

A trade war between the world’s two largest economies is on the verge of breaking out.

South Africa, though on the side-lines, will experience much pain, as will most other countries, when these two behemoths clash.

Also read: China hits back. Trade war with US erupts

The Money Show’s Bruce Whitfield interviewed Siya Biniza, Political Economist at Political Economy South Africa (PESA).

Biniza discussed what we need to know about the impending trade war.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

Already we’ve heard from the EU that they are also willing to retaliate… but the biggest worry is China responding to this…

Siya Biniza, Political Economy South Africa

China says it’s looking to reduce its tariffs and open its economy to the world…

Siya Biniza, Political Economy South Africa

From the US perspective; South Africa is a small economy…

Siya Biniza, Political Economy South Africa

It seems a bit irrational… It’s more of a protectionist approach…

Siya Biniza, Political Economy South Africa

Our auto industry will be the hardest hit…

Siya Biniza, Political Economy South Africa

…it will definitely affect jobs [in South Africa].

Siya Biniza, Political Economy South Africa

This tariff undermines the benefits [of AGOA] to South Africa… We might want to review our obligations because of this…

Siya Biniza, Political Economy South Africa

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