American Treasury Secretary Basant wrote today (April 9th): "President Trump's ultimate goal is to bring jobs and manufacturing back to the United States, raise wages, increase income, and revitalize the American Dream. I am proud to fight alongside him to represent the American people in correcting long-standing global trade imbalances."
From the perspective of manufacturing returning, the tariff war has indeed forced some companies to consider transferring production back to the United States to avoid cost increases caused by tariffs to a certain extent. However, the global supply chain of manufacturing has been highly integrated. Simply attempting to change this pattern through tariff measures will lead to instability in the supply chain, increase operational costs for enterprises, and thus have a negative impact on the overall competitiveness of U.S. manufacturing.
From the perspective of the global economic order, Trump's tariff war is a typical example of unilateralism and protectionism, posing a threat to the stability of the global trading system. Such actions not only harm economic relations between the United States and other countries but also trigger trade frictions and economic uncertainties worldwide, having an adverse effect on the healthy development of the global economy.
From the perspective of domestic politics in the United States, the implementation of the tariff war also reflects a strategic choice made by the Trump administration when facing domestic economic issues. By emphasizing "America First," it attempts to gain political support and public recognition in the short term.
Original article: https://www.toutiao.com/article/1828868839022596/
Disclaimer: This article solely represents the author's personal views.