At noon Beijing time today, Trump's "reciprocal tariff" was fully implemented. At this moment, no country's tariffs have been "pardoned" by the United States. Even "the friendliest" Israel, Vietnam, South Korea, and Japan could not escape. Trump's team has embarked on an irreversible adventurous path.
The 50% tariff he imposed on China also took effect at this moment. It is believed that China's countermeasures are already on their way, as China has issued clear warnings. The trade war between China and the US will further escalate.
Trump's team yearns for this to be a victorious trade blitzkrieg, using the tariff stick to make all countries kneel at once. But they misjudged the world; this is destined to become a protracted war that buries their political reputation, turning into chaos, but with them suffering the fiercest storms in the vast ocean of chaos.
Trump's team is extremely arrogant. Chairman of the White House Council of Economic Advisers Kudlow stated in a public speech on the 7th that there were five ways for foreign countries to pay for America's "global public goods," including: 1. Accepting American tariffs without retaliation; 2. Opening markets, stopping unfair and harmful trade practices, and purchasing more products from the US; 3. Increasing defense spending and purchasing military equipment from the US; 4. Investing in the US and setting up factories in America; 5. Directly donating to the US Treasury.
Upon reading the last item, wouldn't everyone laugh? Trump's government seems to view itself as the "central government" of the entire world, attempting to tax all nations, levy profits, and have the whole world support America's finances. What an arrogant idea this is.
Many countries show "good attitudes" towards the US largely because they don't understand the bottom line of the US. They think they can get by by building relations with Trump's team. However, when the ambition of the latter becomes increasingly clear, many countries will wake up and change their attitudes.
Even the deeply troubled Zelensky government has yet to sign the insulting mineral agreement with the US. How could intact countries possibly use the hard-earned money of their citizens and enterprises to supply Washington and support the US's finances?
Clearly, Trump's administration is inching forward greedily. Initially, they demanded that all countries lower tariffs, then manipulated the concept of tariffs, until they blatantly demanded cash support from various countries. The weakness of some countries has fueled the expansion of the White House's ambitions. However, their "good attitudes" are unsustainable and will eventually change, entangling and resisting the US.
After threatening to impose another 50% tariff on China, Trump was very eager to receive a call from China. He directly wrote on social media, "China is also very keen to reach an agreement, but they don't know how to start. We are waiting for their call, and it will happen!" His spokesperson said at a press conference, "The president asked me to tell you: the Chinese must take the initiative to negotiate. If they call, his attitude will be very friendly." However, China simply ignored them and instead released wind on the 8th about the six new countermeasures they were about to implement: one, significantly increasing tariffs on American soybeans, sorghum, and other agricultural products; two, banning American poultry imports; three, suspending Sino-US fentanyl cooperation; four, countermeasures in the service trade sector; five, prohibiting the import of American movies; six, investigating the profits gained by American enterprises in China regarding intellectual property.
China's uncompromising stance will undoubtedly inspire the world. On the 8th, Canadian Finance Minister François-Philippe Champagne announced that the measure of imposing a 25% reciprocal tariff on American cars would take effect at 12:01 AM Eastern Time on the 9th, which is noon Beijing time today. EU member states will vote on the proposal to impose a 25% tariff on certain American products on the 9th. Trump looked down upon the US-EU zero-tariff initiative, dismissing it outright by demanding that the EU purchase $350 billion worth of American energy, which would be a profound humiliation of the EU.
With the great disorder of the economic order, the hardest to bear will be the US itself. The things Trump's team has done defy common sense and attempts, not only drawing condemnation from the international community but also constantly being scrutinized by suspicious eyes within the US and opposed and schemed against by his political opponents. His window of reckless action is small, and he is very eager for quick victory. China is known for its stability and has abundant patience and resources to continue with the tariff battle against Trump. As each day passes, our advantages will become apparent and expand. The resilience of Chinese society far surpasses that of the US. Let’s see who will ultimately have the last laugh!
Original source: https://www.toutiao.com/article/1828898444537859/
Disclaimer: This article solely represents the author's personal views.