Global EditionASIA 中文雙語Fran?ais
Opinion
Home / Opinion / Editorials

Tariff policy fails to produce 'endless wins', only perpetuates self-inflicted harm: China Daily editorial

chinadaily.com.cn | Updated: 2025-06-03 21:03
Share
Share - WeChat

The recent announcement that the United States is doubling the tariffs on imported steel and aluminum has been met with widespread concern and objections from many of its key trading partners around the world.

The move, purportedly aimed at safeguarding the US steel industry, was announced on Friday while US President Donald Trump was visiting the US Steel Corporation — Irvin Works in West Mifflin, Pennsylvania. The higher tariff, effective on Wednesday, was swiftly denounced by many as being unreasonable, unfriendly, and disruptive of global trade dynamics.

Canada, which stands to bear a significant economic burden due to the tariff escalation, given it is the US' largest trading partner and largest supplier of steel and aluminum, has voiced strong objections to the tariff hike, as have Australia and the European Union.

The Canadian steel industry painted a grim picture of potential catastrophic unemployment, slowed production, and disruptions in the supply chain, underscoring the far-reaching implications of the US decision. The Canadian Chamber of Commerce has warned that both countries will pay a huge price for the move, as raising steel and aluminum tariffs is contrary to North American economic security and undermines the efficient, competitive and reliable cross-border supply chain between the US and Canada in the steel and aluminum fields.

The European Commission has also expressed deep concern over the increased tariffs, citing heightened uncertainty in the global economy and a setback to ongoing negotiation efforts. Germany, as the leading steel producer in the EU, faces the brunt of the tariff increase within the bloc, with the German Steel Federation warning of escalating transatlantic trade conflicts and mounting pressure on the European steel industry.

There is also opposition to the move within the US. The country's construction companies have warned that the tariff increase will push up the prices of key building materials, thereby increasing the cost of building homes, and US consumers will have to pay more for everything from cans of soda to cars.

It is worth noting that two days before Trump announced the move, the US Court of International Trade blocked the US administration's tariff policy announced on April 2 — the much-vaunted "Liberation Day" — from taking effect, ruling that the tariff policy was "overreaching". The US Federal Circuit Court of Appeals then approved the administration's request to temporarily shelve the court's ruling.

So Trump's Friday announcement can be seen as the administration's stern response to judicial authorities challenging its practice of power, as well as an indication that it still blindly believes pressing ahead with its tariff policy is the only way for the US economy to escape the mess it is in.

Although he made the announcement while bragging his administration had managed to secure Japanese investment in the iconic US steel company while the US retained ownership of it to prove his tariff policy is producing results, how that deal will fare remains to be seen.

Whatever the outcome, the US cannot reshape the world economic and trade order by simply weaponizing tariffs. It is the US economy that will suffer from the Trump administration's unrealistic and costly experiment that is doomed to failure.

Although the US president insists that the tariff policy is just a negotiation tactic, instead of the promised "endless wins", what Trump has reaped so far from his "art of the deal" is only endless and tiring trade negotiations with almost all major economies to resolve a trade war that leaves no party unscathed.

Unilateral tariff escalation cannot redefine global trade norms. Instead, the US economy risks bearing the brunt of this self-defeating approach, alienating allies and destabilizing its own markets.

The administration's attempt to deflect blame onto its predecessors and other countries fails to mask the inherent flaws of the tariff policy. The path to a prosperous future for the US lies not in unilateral actions, but in fostering inclusive and cooperative trade relationships that uphold the principles of fairness, transparency and shared prosperity.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 国产浮力影院第一页| 久久久国产99久久国产久| 精品无码中文视频在线观看| 国产精品久久久久9999高清| 一级黄色片大全| 最新亚洲精品国自产在线观看| 伊人久久大香线| 色综合久久综合网欧美综合网| 国产精品女人呻吟在线观看| 《溢出》by沈糯在线阅读| 日本理论片午午伦夜理片2021 | 男人和女人做爽爽视频| 国产精品免费视频网站| 中文字幕在线不卡精品视频99| 欧洲多毛裸体XXXXX| 免费人成黄页在线观看视频国产| 国产亚洲成归v人片在线观看| 好爽好紧好大的免费视频国产| 亚洲加勒比在线| 精品国产一区二区三区无码| 国产成人福利精品视频| 99精品视频在线观看免费| 日产精品1区至六区有限公司| 亚洲国产天堂久久综合| 精品一区二区三区免费毛片爱 | 久久受www免费人成_看片中文| 狠狠色噜噜狠狠狠狠色吗综合| 国产亚洲真人做受在线观看| 3d动漫精品啪啪一区二区中| 妇女被猛烈进入在线播放| 久久久噜噜噜久久中文字幕色伊伊| 欧美成a人免费观看| 免费a级毛片无码免费视频| 韩国一级淫片漂亮老师| 国产黄大片在线视频| 上海大一18cm男生宿舍飞机| 最近高清日本免费| 亚洲精品电影在线| 老司机亚洲精品影视www| 国产日韩欧美亚欧在线| HEYZO无码综合国产精品|