Reciprocal tariffs yield no winners

#Reciprocal #tariffs #yield #winners

Recently, the United States, neglecting widespread opposition from home and by the international community, has announced that it will impose up to 10 to 50 percent of its so -called ‘mutual taxes’ on all its trading partners.

It violates the legitimate rights and interests of the nations, severely violates the rules of the World Trade Organization (WTO), and severely damages the rules -based multilateral trade system and disrupts the stability of the global economic system. The Chinese government strongly condemns and strongly oppose it.

The actions taken by the United States violate basic economic principles and market principles, ignoring the balanced results achieved through multilateral trade negotiations and ignoring the fact that the United States has long benefited from international trade.

Using prices as a highly pressure tool for self -sufficiency is a textbook of unilateral, protection and economic bullying. Its scheme to gain special benefits at the expense of global interests will seriously damage the global economy, as the Director General of the WTO has predicted that the revenue announced by the United States can lead to approximately 1.0 1.0 % contraction in global trade volume this year.

The so -called ‘mutual prices’ are pursuing neither ‘mutual relations’ or ‘justice’, but are looking for ‘America first’ and are included in zero games. Recently. , The United States is exploiting taxes to eliminate the current international economic and trade discipline, prefers US interests over global welfare, and sacrifices the legitimate interests of countries around the world to serve their Hijemonic agenda. Such measures will certainly be met with widespread opposition by the international community. China is an ancient civilization and a land. Chinese lawyers treat others with sincerity and confidence. We don’t worry, but we have no fear of worry. There is no right way to deal with China. China has announced numerous response measures, including imposing 34 % additional taxes on all US imports, filing a lawsuit against US taxes with the WTO dispute settlement method, and adding some US entities to the control list and an incredible list.

We will fully fight the United States’s unilateral and hedimonic actions and protect our sovereignty, security and development interests. China-US economic and trade relations should be mutually beneficial in nature, the United States should be in line with the general expectations of people in both countries and all over the world. According to the need to protect the basic interests of the two countries, the United States should stop the use of taxes as a weapon to suppress China’s trade and economy, and to stop the Chinese development rights.

As Chinese President Xi Jinping has said, to modernize any country, it should achieve joint development through solidarity and cooperation and follow the principles of joint contributions, shared benefits and victory results.

Blowing the lamps of others does not illuminate one’s own way, nor does it length of the length of the streets of others. As the world’s second largest economy and the second largest consumer market for goods, China will open its doors to the outside world, no matter how the international situation changes. China will continue to open the world at a higher level, will permanently enhance its institutional launch in rules, regulations, management and standards, enforce high -level trade and investment policies of liberalization and convenience, and will enhance market -oriented, enhance the global, and international business, and globalization of the world -based world -based, and globalization. Can go

There are no winners in trade or tariff wars, and the end of protectionism ends. The world should not and should not go back from mutual isolation and division. It is the joint responsibility of the international community to make economic globalization more open, comprehensive, globally beneficial and balanced. Despite the serious negative effects of the US tariff policy, countries around the world should strengthen communication, harmony, solidarity and cooperation, maintain real multi -solidarity, the international system with the United Nations (United Nations) should work together to work together on a global level of global economic and global work. We believe that the majority of countries that value fair and justice will stand on the right of history, and make decisions that fulfill their interests.

The author is the Chinese ambassador to Pakistan.