Washington has lost its rationality, and its bullying practices are a provocation against the world. On July 10, Trump administration placed another $200 billion in tariffs on Chinese imports.
This is completely unacceptable. China will make solemn protests against this unacceptable behavior. In order to protect the interests of the country as well as the people, China will retaliate with necessary countermeasures.
It’s been proven throughout history that irrational trade wars are precarious, and the country initiating a trade war is likely to end up shooting itself in the foot. However, this warning has fallen on deaf ears in the White House. Some have even adopted blind optimism, dreaming of an easy win.
It’s not the first time that China has faced the U.S. in this way, and so far China has not been a country to sit back and become compromised. To make China take a step back is the largest strategic mistake that the U.S. could make.
China will never back down when faced with threats and blackmail, neither will it waver its resolution in safeguarding the global free trade and multilateral trade system.
An orderly international trade system is needed by every country around the world, serving as a cornerstone of global economic growth. The U.S. is undermining global trade rules and causing problems for the global economy.
In the modern world, all economies have been, to different extents, integrated into the global industrial chain and value chain. They are dependent on each other, sharing both prosperity and recession. The “zero-sum” mentality of the U.S. not only brings negative impacts to both parties directly involved, but also to every country on the global industrial chain.
In history, any threats regarding tariffs were quickly followed by unemployment and shrinking orders, and even long-term global recession. The ongoing unilateralism of the U.S is not only hurting China and itself, but also the world.
The international community has expressed concern and anger toward the irresponsible U.S. trade policies. International Monetary Fund (IMF) chief, Christine Lagarde, pointed out that the U.S. is responsible for negative impacts on the international trade system. WTO Director-General Roberto Azevedo also warned that the global trade system has been shaken.
No matter how the world changes, China will focus on its own issues, and firmly advance its progress of reform and opening up with people-centered strategies. The country is confident about and capable of coping with risks and challenges.
China will keep working with the international community to safeguard trade liberalization and multilateral trade systems, and fight back the bullying tactics of the U.S.
It is believed that China will win the battle between unilateralism and multilateralism, between protectionism and trade liberalization, and between power and rules.