(Yicai Global) Nov. 11 -- US President-elect Donald Trump is unlikley to honor his campaign pledge to impose a 45 percent tariff on imports of Chinese-made products, according to American business people interviewed by Yicai Global.
Trump pledged during his campaign for the presidency to restart trade talks with China if he won, and even threatened to levy a 45 percent tariff. The consensus in the US business community is that it was just rhetoric and was as unrealistic as his promise to ask Mexico to invest in building a border wall.
Presidential candidates' remarks do not represent US government policy, said James Zimmerman, chair of American Chamber of Commerce in China.
All those interviewed believe trade protectionism will be on the rise in the US under a Trump Administration and a Republican-dominated Congress. The country's major trade partners are likely to see their trade surpluses pared, they said.
Economist Meghnad Desai, advisory board chairman of the Official Monetary and Financial Institutions Forum, noted that Trump is a typical protectionist, but will find it very hard to strike at China and Mexico over trade as he has promised. The World Trade Organization sets global trading rules, and it would be almost impossible for the US to withdraw from the WTO.