U.S. President Donald Trump shows an executive order on "reciprocal tariffs" in the Rose Garden at the White House in Washington, April 2, 2025. [Photo/Xinhua]
As U.S. President Donald Trump signed an executive order imposing so-called "reciprocal tariffs" targeting certain trading partners, including China, international experts warned of the broader consequences of such protectionist and unilateral trade policies. Amid growing global uncertainty, these experts underscored China's economic resilience and commitment to multilateralism.
Carl Fey, a professor of strategy at BI Norwegian Business School, called the tariffs imposed by the U.S. government "a lose-lose-lose situation," saying "they hurt the U.S., they hurt China and they hurt the rest of the world."
Fey argued that instead of fostering competitiveness, tariffs pressure businesses to restructure supply chains in inefficient ways, pushing countries to produce locally rather than in regions that hold comparative advantages. He added that the tariffs imposed by the U.S. government mean the "world will accomplish less as a whole."
The Chinese government also issued a statement opposing U.S. abuse of tariffs, pointing out that under the guise of pursuing "reciprocity" and "fairness," the U.S. is engaging in zero-sum games and, in essence, seeking "America First" and "American exceptionalism," which subverts the existing international economic and trade order.
The reciprocal tariffs will also have multiple repercussions on U.S. households and the broader economy. A recent Yale University study projected that if trading partners retaliate, U.S. personal consumption expenditures (PCE) prices will rise by 2.1%, equivalent to a loss of $2,700 to $3,400 per household on average. The study also predicted a 1-percentage-point decline in U.S. real GDP growth in 2025.
While global trade is being tested by rising unilateralism and protectionism, experts remained optimistic about China's economic resilience and long-term potential. Denis Depoux, global managing director at Germany-based consultancy Roland Berger, dismissed notions of an "economic collapse" in China, citing the country's strong economic value and technological advancements.
Depoux highlighted China's evolution from a manufacturing hub to a global technological player. "China has invested heavily in R&D, and while its companies are still focused largely on the domestic market, the next step is for them to expand globally," he said.
He proposed a shift from a "Made in China" to a "Designed in China" model. With Chinese companies gaining international recognition, Depoux encouraged them to focus more on investing overseas and cooperating with local markets to become true multinational players.
Depoux also noted that China's tech-savvy, innovation-driven consumers and businesses make it an increasingly attractive destination for foreign companies, particularly those seeking to explore tech-driven opportunities.
Though concerned about the threat that tariffs and restrictive trade policies pose to global supply chains, Depoux remains confident in the future of globalization, albeit in a new form.
"Efficient global supply chains, driven by comparative advantages, create prosperity," he said. "Protectionism only hampers this process. We need to fend it off."
Guy Ryder, U.N. under-secretary-general for policy, echoed these sentiments. He warned of rising risks of fragmentation in global supply chains, yet reaffirmed confidence in the principles of open trade.
"Fortunately, many international organizations oppose policies like those of U.S. President Donald Trump," Ryder said. "I don't believe the system of open trade is over."
Ryder praised China's consistent support for multilateralism. "No country — not even the largest — can solve today's global problems alone," he said. "In these challenging times, China's commitment to multilateralism is especially important."
中新经纬2月18日电 “文旅之声”微信号18日消息，2024年春节假期，全国国内旅游出游4.74亿人次，同比增长34.3%；国内游客出游总花费6326.87亿元，同比增长47.3%。 文旅部介绍，2024年春节期间，文化和旅游部组织开展“欢欢 OpenAI首个视频生成模型发布 可用文本生成视频 虚拟与现实已分不清？Sora将带来什么 在2月16日，OpenAI宣布推出全新的生成式人工智能模型“Sora”。据了解，通过文本指令，Sora可以直接输出长达60秒的视频，并且包 中新经纬2月18日电 “长三角铁路”微博18日消息，截至2月17日，2024年春节假期正式落下帷幕，长三角铁路假期8天发送旅客逾1700万人次，日均发送旅客在215万人次以上，较2019年同期增幅超六成。2月18日(正月初九)是假期后的 商务部新闻发言人2月22日表示，春节期间，消费市场年味浓、活力足、人气旺，销售较快增长，实现良好开局。预计一季度消费市场将呈现平稳增长态势。春节期间，消费活动丰富多彩。商务部举办全国网上年 新华社首尔2月21日电 “观览时间已结束，请有序退场。”位于韩国龙仁爱宝乐园的熊猫世界里，工作人员引导着前来参观旅韩大熊猫“福宝”一家的游客。在韩国出生的大熊猫“福宝”计划今年4月初回国。依 中新经纬2月23日电 (林琬斯)“前一秒我还在想：开门送客还不简单？把门往外一推不得了。后一秒已经被‘同事’上了一节生动的‘开门’课。”近日，中新经纬以“体验顾问”的身份，在华为智能生活馆为顾客提供服务，在迎来送 。本文链接：International experts warn of trade war fallout, cite China's resiliencehttp://www.sushuapos.com/show-5-52956-0.html
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