Reference Message Network reported on June 2 that the daily newspaper "Mainichi Shimbun" of Japan published an editorial titled "50% Steel and Aluminum Tariffs Highlight the Bullying Nature of a Great Power" on June 1. The article is compiled as follows: The practice of excluding foreign goods through high tariffs and forcing various countries to increase investment in the U.S. can only be described as the bullying nature of a great power. U.S. President Donald Trump decided to impose a 50% tariff on steel and aluminum products imported into the United States. That is to say, within less than three months after the implementation of the 25% tariff in March, the tax rate will be doubled. This clearly deviates from the right track. This policy announcement is related to Nippon Steel's massive investment in the U.S. steel industry. In response to the total investment amounting to 2 trillion yen (approximately 14 billion USD), Trump emphasized that "this is the largest investment ever received by the U.S. steel industry in history, and my tariff policy has made steel forever an American-made product," attempting to package it as his achievement. He may want to say that the more severe the tariff increases are, the more investment there will be in the U.S., which will bring huge economic benefits. The purpose of this move seems to be waving the banner of "America First" and catering as much as possible to domestic supporters. It is extremely selfish. As early as during the Biden administration, Nippon Steel had announced its plan to acquire U.S. Steel, which has no direct relationship with the tariff policy. Although Trump said "welcome cooperation," he did not indicate his position on approving Nippon Steel's acquisition of U.S. Steel as a wholly-owned subsidiary under the premise of massive investment. If we are to say that it benefits the U.S., then recognizing Nippon Steel's required operational system would make sense. After Trump's second term as president, a list of foreign companies investing in the U.S. was added to the White House website. However, if this practice of unilaterally threatening to impose high tariffs through economic strength and coercing investments were to prevail, free enterprise activities would inevitably be distorted. Forcing enterprises to set up factories in the U.S. will lead to high labor costs, compress corporate profits, damage the international supply network that has always provided cheap goods, and impact the global economy. The Trump administration is negotiating separately with trade partners such as Japan and Europe that have requested adjustments to the tariffs. This sudden increase in steel and aluminum tariffs will undoubtedly provoke countermeasures from all sides. The growing concerns over the outbreak of a trade war may reignite market turbulence. Countries around the world have been willing to invest in the U.S. because it is an open country. Immigration has brought population growth and attracted talent from all walks of life. Economic growth is the driving force behind attracting investment. On the contrary, the Trump administration rejects immigration, restricts universities from admitting international students, and implements policies of isolationism. These actions that disrupt the world while harming U.S. interests should stop immediately. (Compiled/translated by Liu Lin) Original source: https://www.toutiao.com/article/7511178979727819301/ Disclaimer: The article represents the views of the author. Please express your attitude by clicking the "Like/Dislike" buttons below.