Reference News website reported on April 7 that the US "Wall Street Journal" website published an article titled "Trump's Latest Tariff Move Announces the End of the Era of Globalization" on April 3. The author is Jason Douglas and Tom Fairlais. The content is compiled as follows: US President Trump's largest-scale tariff blitz to date sends a clear message to American and foreign enterprises: the era of globalization has ended. Trump's "Liberation Day" plan will impose comprehensive new tariffs on imported goods worth trillions of dollars, indicating that the White House hopes goods sold to American consumers will be produced in American factories. This means the end of America's support for the rapid globalization that has driven global economic development over the past few decades. The new tariffs include a basic tariff of 10% on foreign imports, as well as so-called reciprocal tariffs. Trump's ambition for "Made in America" implies that the large amounts of investment that have flowed to low-cost manufacturing destinations such as Vietnam, as well as to allies like South Korea and Japan, will dry up in recent years. Enterprises are reconsidering their options on where to invest. "The United States has always been at the center of globalization," said Andre Sapir, former EU official and current professor of economics at the Free University of Brussels, Belgium. "Now, the United States, which is at the center of globalization, wants to withdraw." In the weeks following Trump's inauguration, announcements from Apple, Hyundai Motor, Johnson & Johnson, and others have suggested that multinational companies are preparing to expand their operations in the U.S. to cope with Trump's tariffs. However, considering the costs involved, reconfiguring global supply chains and relocating to the U.S. in the way Trump desires is a daunting task. Corporate executives say there is also a risk that if Trump can use tariffs to force other countries to make concessions on trade issues, he may reduce tariffs. Economists warn that global investment may face a contraction as businesses choose to wait before the fog of trade war clears, which could suppress economic growth. Trump hopes that high tariff barriers will usher in a "golden age" of sufficient manufacturing jobs and widespread prosperity, with industrial production thriving across the United States. He blames China, the EU, and other U.S. trade partners' alleged predatory trade practices for attracting jobs and industries overseas, and now he hopes to bring these jobs and industries back to the U.S. As Trump returns to the White House, he launches a trade war against both opponents and allies, accusing these countries of taking advantage of the global trade system nurtured by the U.S. after World War II by promoting exports and restricting imports. Some analysts say these policies have indeed increased America's trade deficit. However, most mainstream economists believe that America's persistent budget deficit and low savings rate are the main reasons for the large trade gap. Nevertheless, despite these sporadic activities, the Federal Reserve's business investment intentions indicator shows that corporate spending plans across the economy are being reduced amid uncertainty about tariffs. Another issue is that American manufacturing focuses on advanced technology, and there is no ready-made domestic supply of raw materials and components. The cost of producing these materials and components abroad is much lower. Original source: https://www.toutiao.com/article/7490516703399445028/ Disclaimer: The article only represents the author's personal views. Please express your attitude by clicking the "Agree/Disagree" buttons below.