US President Donald Trump started the Global Trade War with a return to power. He first targeted China, Mexico and Canada and then announced a recipe on imports from several countries including India. Due to Trump Tariff, many countries also hit high tariffs on America. Now the US President is being targeted fiercely in the Chinese media. The Global Times has said in its editorial Trump Tariff itself is not only the US markets, but the US economy.
Chinese media gave this warning
Amid the tariff war, China’s government media has warned that US President Donald Trump’s tariff will prove to be a lot of damage to the American economy and it will be in trouble instead of achieving its goals. The Chinese nationalist Tablobal Times wrote in its editorial note that the American tariff policy has constantly pressurized the financial markets. President Trump’s Tariff Strategy is an unstable strategy.
China retaliated on American tariff
Significantly, Donald Trump started a trade war with China, Canada, Mexico and the European Union only two months after his return to the White House. So far in February and March, the US has implemented two tariffs, so China has reacted rapidly. In response to the US tariff, China imposed a duty on US agriculture and food exports, banning exports and investment related to 25 US firms. Apart from this, soybean import licenses of 3 American companies have been suspended.
Can US economy bear tariff war?
The answer has also been given in the editorial of the Global Times. It says that now the question is whether the American economy can withstand the tariff war on such a large scale, so the answer is not even a matter of debate, because it is clearly ‘no’. The fear of economic recession between this trade war has created restlessness in the markets. There is a possibility of recession in America. This can be gauged from the fact that American stocks are constantly suffering and the fastest selling has been seen in the last months.
The two -edged sword is tariff policy
In its editorial, it has been said by the Global Times that the dependence of the US government on the tariff is like a two -holding sword. In order to put pressure on imported goods, tariff stakes are sure to fall upside down. It states that the most important thing is that in response to US Tariff, his business partners can also become a choice for many countries to do not sit quietly and retaliate with high tariffs on American exports.
‘There is not so much strength in America …’
It states that Trump’s tariff policy wrongly believes that the benefit of one country should come at the cost of another country. But this thinking is outdated in the global economy. Every policy should be made after considering how to increase the interests of both sides. According to the Global Times, America does not have enough power to force the whole world to pay the price of its wrong economic policies. It suggested that the US would have to abandon its suicide tariff policy to revive the economy from recession.