The United States wants to cut itself off behind a tariff wall, but most of the world will continue to pursue globalization, said a British economist.

LONDON, March 19 (Xinhua) -- U.S. President Donald Trump's recent tariff policies will negatively impact the U.S. economy, British economist John Ross has told Xinhua in a recent interview.

Since taking office in late January, Trump has repeatedly stated that his policies will boost the U.S. economy and "bring wealth back to America." However, Ross, senior fellow at the Chongyang Institute for Financial Studies at Renmin University of China, suggested that the tariffs could have the opposite effect.

"The only issue with the tariffs is which combination of bad effects will you have," said Ross, also the former director of economic and business policy for the mayor of London.

The short-term impact will be inflation as the tariff puts up the price of imported goods, and it also means that American companies in the same industries may raise their prices because their international competitors' prices have gone up, said the economist.

"But the Federal Reserve's job is to contain inflation. Therefore, if it sees inflationary pressures, the Federal Reserve will raise interest rates, but it will slow down the economy," Ross said.

Noting that the U.S. economy significantly depends on foreign capital inflows for growth, he said raising tariffs will affect the inflow of overseas capital into the United States, thereby slowing down its economic growth.

Ross noted that domestic factors ultimately determine the development of the U.S. economy. However, Trump has no intention of cutting military spending or reforming medical services, and the policies currently introduced are just "petty cash."

Regarding the impact of Trump's tariff policy on the global economy, Ross said the United States wants to cut itself off behind a tariff wall, but most of the world will continue to pursue globalization.

He emphasized that rapidly growing economies, particularly in the Global South, remain committed to global integration and "have no intention of giving up a successful policy."

Ross believes that Trump's policies are accelerating the division of the world into two tracks -- countries embracing protectionism could face economic slowdowns, whereas those committed to globalization may enjoy sustained growth.

"It's clear which of those will be more successful," he added.