Unilateral tariff policies by the US are sparking heated debates about their ripple effects on global trade—and experts warn the true costs might be deeper than they appear. Tang Jie, a researcher at the Chinese Academy of International Trade and Economic Cooperation, breaks down why protectionism could backfire in an interconnected world.
The Domino Effect of Trade Barriers
Think tariffs are just about politics? Think again. Higher import taxes disrupt supply chains, inflate consumer prices, and strain international partnerships. 🚚💔 Tang Jie highlights how these measures create a "lose-lose scenario," slowing innovation and complicating efforts to tackle shared challenges like climate change.
Consumers and Businesses Bear the Brunt
From pricier electronics to delayed manufacturing parts, everyday people and companies worldwide are feeling the pinch. Small businesses, especially those reliant on cross-border trade, face existential risks. "It’s like a tax on globalization itself," Tang notes.
A Call for Cooperation Over Conflict
With global economic recovery still fragile, experts urge dialogue over division. "Trade isn’t a zero-sum game," Tang emphasizes. Collaborative frameworks, like regional partnerships in Asia, could offer a blueprint for balancing competition and mutual growth. 🤝🌱
