Recently, the United States has been wielding the tariff stick and standing against the world, placing its own interests above the common interests of other countries, which will only lead to self-isolation. The international community must not allow the United States to ignore the multilateral trading system and established rules recklessly, and the wheels of history must not be reversed.
By taking such action, the United States defies the fundamental laws of economics and market principles, disregards the balanced outcomes achieved through multilateral trade negotiations, ignores the fact that the U.S. has long benefited substantially from international trade, and weaponizes tariffs to exert maximum pressure for selfish interests. This is a typical act of unilateralism, protectionism and economic bullying. Under the guise of “reciprocity” and “fairness,” the United States is playing a zero-sum game to pursue in essence “America First” and “American exceptionalism.” It attempts to exploit tariffs to subvert the existing international economic and trade order, put U.S. interests above the common good of the international community, and advance U.S. hegemonic ambitions at the cost of the legitimate interests of all countries. Such action will inevitably face widespread opposition from the international community.
America’s action is a typical act of unilateralism and protectionism, severely breaches the WTO rules, infringes upon the legitimate rights and interests of all countries, undermines the rules-based multilateral trading system, and destabilizes global economic order. The current global trade tensions threaten the stability of global industrial and supply chains, deal a heavy blow to the global economy, particularly developing and the least-developed countries, and harm all people of the world. The international community, including major economies, international organizations, economists, and multinational corporations, has expressed deep concern over the unilateral measures of the United States.
Development is an inalienable right of all countries, not the exclusive privilege of a few. International affairs should be addressed through consultation, and the future of the world should be decided by all countries. The G77 and China is an important mechanism for developing countries to defend our common interests. At this crucial moment, the position and view of the G77 and China attracts much attention and expectation from the international community. We should adhere to the correct direction of globalization, strengthen solidarity and speak with one voice in a timely manner to oppose protectionism and unilateralism and uphold the rules-based multilateral trading system. When we release joint statement of the G77 and China within the framework of the UNIDO, it is quite necessary to put inside our common position on opposing the abuse of tariffs and preserving global economic stability.
There is no winner in a trade war or tariff war, and protectionism leads nowhere. China has taken firm countermeasures against America’ abuse of tariffs. China’s opposition to power politics is not only to safeguard its own legitimate rights and interests, but also to uphold the common interests of all nations and to ensure that humanity is not dragged back into a jungle world where might makes right. Saying NO to the America’ negative actions is to say YES to the authority of the United Nations and multilateralism, and defend the development interests of the Global South.
As the second largest economy and second largest market for consumer goods, China will stick to the principle of opening up and mutual benefit, and the door to opening up will become wider and wider. We are willing to strengthen trade and investment cooperation with all parties, share development opportunities with the world and inject more confidence and dynamics into the world economy.
Thank you.