Countries should pursue mutually beneficial economic ties, they say

　　An aerial drone photo shows a view of the Tangshan Port in north China's Hebei province, Jan 13, 2025. [Photo/Xinhua]

　　As the United States clearly leverages tariffs as a bargaining chip in its dealings with trade partners, the rest of the world must stand together to respond in a cooperative manner, rather than negotiate for Washington's mercy, economists have urged.

　　“The US economy is large indeed, but it only makes up 15 percent of global trade,“ said Justin Yifu Lin, former chief economist at the World Bank, and dean of the Institute of New Structural Economics at Peking University.

　　“If the rest of the world, accounting for 85 percent of world trade, comes together to oppose the US tariff wars and pursues economic exchanges in a more open and mutually beneficial manner, the US will only end up hurting itself more than other economies,“ Lin added.

　　US President Donald Trump said on Tuesday that the 145 percent tariff he imposed on Chinese imports “is very high“ and it “won't be that high “and will eventually “come down substantially“, as he expressed optimism about future talks to reach a trade deal between the world's two largest economies.

　　This rapid shift in the White House's stance toward China within less than a month — from one of maximum pressure to a more conciliatory approach — is largely due to Beijing's resolute countermeasures in defense of its own interests, rather than any willingness to compromise in negotiations with Washington, experts said.