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Economists: Unite to oppose US tariff hikes

2025-04-24 20:07   CHINA DAILY

  On Tuesday, White House press secretary Karoline Leavitt said more than 100 countries have reached out to the US to initiate trade talks after Trump announced sweeping universal tariffs earlier this month, with 18 nations having submitted proposals. China is not among these.

  Instead, the multiple rounds of US tariffs on Chinese imports have prompted China to hit back with counter-tariffs on US exports totaling 125 percent.

  “When smaller economies, whether it's ASEAN or African nations, attempt to negotiate with the US one-on-one, they lack sufficient bargaining power to obtain the concessions they desire, as the US holds a much stronger negotiating position,“ Lin said.

  Another problem when dealing with the US is that even if these smaller economies agree to certain terms, the US may demand even more concessions from them, Lin said.

  “I hope that all countries can work together, not only for their own interests, but also for the collective wellbeing and development of the entire world,“ Lin added.

  Yang Weiyong, an associate professor at the University of International Business and Economics, said that China, as the world's second-largest economy, can seek deeper economic cooperation with Europe by proactively expanding imports from the continent and even cutting all tariffs on imports from the European Union to zero.

  Yang added that there is also significant room for China and the EU to strengthen two-way investment flows by resuming negotiations on the China-EU Comprehensive Agreement on Investment.

  “By joining hands, China and the EU can not only strengthen their bargaining power in dealing with the US and defend their own interest, but can also set an example for the rest of the world, encouraging more economies to further open up to each other and jointly fight against US economic bullying,“ Yang said.

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