The impact of the trade war ignited by the United States has gone beyond the Sino-US bilateral sphere, according to Harvard professor and US veteran policy adviser Richard Cooper.

Exchanging views with Chinese scholars at the China Center for International Economic Exchanges (CCIEE) in Beijing on Tuesday, Cooper said that the trade war affects Europe, Canada, Mexico and other economies as well.

“I will not call this catastrophic, they will influence particular industries quite a bit, but it would not influence either the Chinese economy or the US economy taking the whole," said Cooper.

"Trade as a shared GDP has declined a lot in China and it’s even lower in the US as a ratio on GDP. So the tariff is unpleasant and disagreeable … but it is not catastrophic in the usual terms."

Cooper served on the Council of Economic Advisers from 1961 to 1963 as the senior staff economist. Between 1965 and 1966, he was deputy assistant secretary of state for International Monetary Affairs in the United States Department of State, and between 1977 and 1981 he was the under secretary of State for Economic Affairs.

Cooper said US President Donald Trump is interested in two “mistaken targets” to increase US employment in manufacturing and reduce bilateral trade surplus with the US.

“I do not believe he is actually a protectionist, he would be as happy, even happier to see an increase in US exports than decline in imports. That’s important to understand that some people are actually protectionists who actually want to cut down imports,” said Cooper.

Cooper said that Trump focused on two issues which concerned trade, directly or indirectly.

“First, he has the enemies of countries that have a trade surplus with the US,” said Cooper.

“He is picking on China but he is not picking on China alone. He treated Mexico much worse on his campaign. And since he became president he has added South Korea, Japan, Germany and Canada to the list of countries that have, in his mind, a large trade surplus with US,” said Cooper.

The other issue is a decline in US manufacturing jobs.

“Manufacturing jobs, he (Trump) has the view that the jobs, which have been declining, for 40 years now, have been stolen by foreign countries, and again, Mexico, is at the top of the list, but China is next after Mexico, for stealing jobs,” said Cooper.

Cooper also commented that the “Made in China 2025” plan needs to be put in an international perspective.

“Many countries have set aspirations and ambitions and China is not alone," said Cooper.