North India Statesman
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Trump Tariff: US President Donald Trump started the global trade war as soon as he returned to power. He first targeted China, Mexico and Canada and then announced a mutual duty on imports from several countries including India. Due to Trump’s tariff, many countries also put high tariffs on the US. Now the US President is being targeted fiercely in the Chinese media. The Global Times said in its editorial that Trump’s tariffs would cause problems not only for the US markets but also for the American economy.
Chinese media warns this
Amid the tariff war, the Chinese government media warned that the tariff of US President Donald Trump would cause huge loss to the US economy and would be in trouble instead of achieving its goals. The Chinese nationalist Tabloid Global Times wrote in its editorial that the US tariff policy has constantly pressurized the financial markets. President Trump’s tariff strategy is unstable.
China retaliated on American tariff
It is noteworthy that Donald Trump started a trade war with China, Canada, Mexico and the European Union two months after returning to the White House. So far, the US has imposed two tariffs in February and March, to which China has responded immediately. In response to the US tariff, China imposed a duty on US agriculture and food exports and imposed exports and investment ban on 25 US companies. In addition, soybean import licenses of three American companies have been suspended.
Can the US economy face tariff war?
The answer is also given in the editorial of the Global Times. It has been said that now the question is whether the American economy can face such a large scale tariff war, then the answer is not even a matter of discussion, because its answer is clearly ‘no’. Amidst this trade war, the fears of economic recession have created concern in the markets. There is a possibility of recession in America. This can be estimated from the fact that the US stock markets are constantly suffering losses and have seen the best selling in the last few months.
Tariff Policy one two -edged sword
The Global Times said in its editorial that the dependence of the US government on tariffs is like a two -holding sword. It is certain that applying tariffs to put pressure on imported goods will have an adverse effect. It states that the most important thing is that in response to the American tariff, its business partners are also not going to sit silent and it can be an option for many countries to retaliate by putting high tariffs on American exports.
‘America does not have so much power…’
It states that Trump’s tariff policy wrongly believes that one country should get benefits at the cost of another country. But this idea has become old in the global economy. Each policy should be made by considering how to carry forward the interests of both sides. According to the Global Times, the US does not have enough strength to force the whole world to pay the price of its wrong economic policies. It suggested that the US would have to give up its suicide tariff policy to protect the economy from recession.
