Expert: US tariffs on China likely to cause 'collateral damage' President Donald Trump hit China with tariffs on up to $60 billion of imports to retaliate against the "theft" of American intellectual property, ratcheting up trade tensions between the world's two largest economies. Mary Lovely, an economics professor and fellow at the Peterson Institute for International Economics, says, "there's likely to be collateral damage for many of our allies, particularly in Asia" . IMAGES AND SOUNDBITES