Gao Guoli, director of the Institute of Spatial Planning and Regional Economy, Chinese Academy of Macroeconomic Research

The US government's trade protection measures will damage the interests of US domestic consumers, businesses and agricultural producers. It is not conducive to the sustained and healthy economic development of the domestic economy and social stability of the US.

It is estimated that each US household will lose about $550 due to the tariffs the US government is currently imposing on products imported from China and the loss will surge to $2,200 if the US imposes tariffs on Chinese products comprehensively, Gao said, citing statistics from the Peterson Institute for International Economics.

Meanwhile, increasing tariffs will also increase US companies' production and operation costs and squeeze sales scale and profit space, he said.