commentary
BEIJING – The United States yesterday decided to raise additional tariffs on electric vehicles, among a range of products, imported from China.
It’s not fresh news that the US side repeatedly resorts to sanctions and suppression measures against specific Chinese sectors and companies. This time, the United States is wielding the stick of economic coercion and trade bullying, heightening its narrow-mindedness and hegemony as it adds a new blot on free trade.
The US protectionist moves will not help protect its own industries, but will most likely make its consumers and industry companies bear the consequences, as they contradict both objective facts and the economic law. Unfortunately, politicians in Washington have been accustomed to politicizing the economic and trade issues for their own interests.
Ironically, the United States is a country that touts open economy and free trade, but its actions are against its words. It also promises that it does not seek to decouple from China and hinder China’s development, but its practices tell another story.
More absurdly, the new tariffs will be levied on China’s eco-friendly products, or the new energy sector. Since the industry is closely linked to humanity’s lofty goal of emission cuts and energy saving, the US side is “writing a new chapter” in undermining fair trade and environmental protection.
The rise of China’s new energy sector is a result of global competition and a change of comparative advantages. As China climbs the supply-chain ladder, its new energy products are technology-savvy and have stood the test of a competitive domestic market before gaining global popularity.
Today’s world is very different from before. For different economies, a rational and right approach is to make full use of their comparative advantages and fully participate in global competition and cooperation, instead of suppressing the advantages and capabilities of others by setting up barriers.
As the Western saying goes, “what does not kill you makes you stronger.” It seems that the famous quote applies to China’s technology companies, which are suppressed again and again by the U.S. side but ultimately survive and thrive.
Chinese industries and companies have shown resilience. Chinese technology giant Huawei made 704.2 billion yuan in revenue in 2023, up 9.6 percent year on year.
With a spirit of openness and collaboration, Chinese technology companies have achieved success in a number of countries, providing reliable technology products to global consumers at reasonable prices. They will continue to make their contributions to the well-being of humanity.
As a result of the evolution of comparative advantage and the international division of labor, it is not difficult to see that both the United States and China have benefited from trade liberalization and globalization.
The world’s top two economies are highly complementary to each other, and are solid forces for global trade and economic prosperity. If the United States continues its moves of unilateralism, protectionism, coercion and suppression, the US consumers and the global community will pay the price.
– Xinhua
