(Source: CCTV News Client 2025-04-13)
It has climbed all the way from 34% to 145%. How do you think about the high tariffs one after another? For those foreign w88 companies that have been affected, how can we help them break through? April 12, "Newsweek" focuses on this week's perspective: the escalating tariff war.
China’s serial countermeasures are firing with multiple arrows
U.S. President Trump’s tariff stick against China in the name of reducing the w88 deficit eventually turned into an absurd numbers game. When the so-called "reciprocal tariffs" were introduced, Trump once declared that the United States had ushered in a "Liberation Day." In response, the British "Economist" magazine commented, "Trump hopes to eliminate the U.S. w88 deficit through tariffs, but his series of stupid actions will cause unnecessary harm to the United States." It was not a day of liberation, but a day of destruction.
CNN commented that "reciprocal tariffs" are a sign of fundamental changes in global w88 since World War II. About 90% of global w88 will be affected by this storm. The media anchor Fareed Zakaria even bluntly said in the program that the U.S. government’s w88 protectionism is “too outrageous” and that w88 protectionism harms others but does not benefit oneself.
Tu Xinquan, Dean of China World w88 Organization Research Institute, w88 casino: If the tariff exceeds 50%, it will basically be difficult to carry out normal commercial w88. With the current tariffs of over 100%, most products will be cleared of w88.
Before the "reciprocal tariffs" took effect on April 9, Trump also claimed that he was "waiting for a call from China." However, in the end, what he was waiting for was not a call, but a strong counterattack from the Chinese government. Faced with a new round of extreme pressure and shameless bullying by the Trump administration, China has launched a series of countermeasures. It has included 6 U.S. companies on the unreliable entity list, 12 U.S. entities on the export control list, and has repeatedly sued the U.S. for escalating tariff measures against China in the WTO. In terms of tax rates, on April 11, the Tariff Commission of the State Council issued an announcement stating that it would impose an additional 125% tariff on all imported goods from the United States.
On April 9, the State Council Information Office released a 28,000-word white paper "China's Position on Certain Issues in Sino-US Economic and w88 Relations", which further clarified the facts of Sino-US economic and w88 relations and systematically elaborated on China's policy stance on relevant issues. The white paper emphasizes by listing various data that China does not deliberately pursue a surplus. In fact, the ratio of China's current account surplus to GDP has dropped from 9.9% in 2007 to 2.2% in 2024. Moreover, the United States is the largest source of China's service w88 deficit, and the scale of the deficit is generally expanding. Considering the three factors of goods w88, service w88, and local sales of domestic enterprises' branches in the other country, the fact of Sino-US w88 is that the benefits from economic and w88 exchanges between the two sides are roughly balanced.
In addition to w88 in goods, this week the Ministry of Culture and Tourism and the Ministry of Education issued risk warnings to Chinese tourists and overseas students in the United States. On April 10, a spokesman for the National Film Administration stated that in view of the U.S. government’s wrongful behavior of imposing indiscriminate tariffs on China, it will follow market rules, respect audience choices, and moderately reduce the number of U.S. film imports. Subsequently, the stock prices of many U.S. film companies fell sharply.
Tu Xinquan: China is the country that has been subject to the highest tariffs and the country that has suffered the most damage. On the other hand, we have the ability to resist or counter the unilateral protectionism of the United States. From a world perspective, China is providing such global public goods to the world. This kind of public good is to maintain the multilateral trading system. Of course, we do not want this kind of w88 war between China and the United States to continue to spread. We have also repeatedly emphasized that no one benefits from the w88 war. We hope that the U.S. government can recognize this as soon as possible, see the mutually beneficial and win-win nature of Sino-U.S. economic and w88 relations as soon as possible, and return to the track of negotiating to solve the problem.
Open up overseas markets, domestic market buff bonus
In recent years, China's dependence on the US market has actually been decreasing. The share of exports to the US in all exports has dropped from 19.2% in 2018 to 14.7% in 2024. However, when it comes to individuals, how many companies will be affected by this round of tariff war, and how to help them tide over the difficulties, we still need to deal with it seriously. I believe that both the government and society are thinking of ways. For example, helping foreign w88 companies expand into new markets is one of the ways. In addition to the continued expansion of emerging markets such as ASEAN and Africa, there should also be high hopes for the development of domestic demand.
Under the tariff war that has reached its extreme, my country's related foreign w88 companies will naturally be under considerable pressure. This week, for this Anhui company that produces nylon cable ties, the finished products have been packed into boxes and were originally going to be shipped to the U.S. market, but the sudden increase in tariffs has delayed shipments. The escalating tariff war requires this company, which has been operating in the U.S. market for a long time, to urgently find customers in other overseas markets. The nylon cable ties produced by this company are one of China's typical exports to the United States. Among China’s total exports to the United States of US$524.6 billion in 2024, electronic products such as mobile phones and computers are one category, while labor-intensive industries such as textiles, toys, and clothing are another category.
Tu Xinquan: These products may not look very high-end, but in fact their value is very high, and the employment population involved is very large because it is a labor-intensive product. Enterprises are facing many difficulties. I think from the government's perspective, first, short-term help, whether it is legal relief or transportation relief, can reduce the burden on enterprises. Of course, from a longer-term perspective, we still need to help companies develop sales.
Textiles are also an important export commodity in our country. This week, in Shantou, Guangdong, where the textile and apparel industry is densely distributed, helping companies expand into new overseas markets has become a top priority for the local textile industry association. Currently, some local companies are conducting research into Dubai, United Arab Emirates, to expand into new markets in the Middle East.
Many local industry associations are taking action to help foreign w88 companies expand markets and solve problems. This week, the China International Medical Equipment Expo held in Shanghai attracted 5,000 domestic and foreign exhibitors. In order to help related companies open new markets, the China Asia Economic Development Association also specially participated in the exhibition.
Wang Xiaoqian, General Representative of the Middle East Business Department of the China Asian Economic Development Association: In the context of the existing international w88 frictions, the Asian Economic Association has specially set up a Middle East Business Department. Whether it is the policies and transformation needs of the Middle East or the technology accumulation and channels of Chinese enterprises, they are all very suitable for the current policy environment. We will recommend various new energy industries, emerging fields, and technology industries to bravely try.
In addition to continuing to explore new overseas markets, exporting to domestic sales is also a way for foreign w88 companies to survive. On April 11, the China Chamber of Commerce jointly issued a proposal with seven associations to promote the linkage of domestic and foreign w88 to expand the domestic market. According to statistics, among the hundreds of thousands of companies in my country with export performance in 2024, nearly 85% of them will also carry out domestic sales.
Tu Xinquan: In fact, in the past two years, the government has been working hard to promote the integration of domestic and foreign w88 and help foreign w88 companies better connect with the domestic market. So in fact, we have made a lot of preparations, but now we are in a state of emergency, and all energy must be released, including the government's corresponding fiscal budget, which may also need to make better preparations and support.
On April 10, the Ministry of Commerce held a regular press conference. To cope with the uncertainty, we will help foreign w88 companies that have encountered difficulties in exporting to explore the domestic market, make good use of the w88-in policy for consumer goods, organize a series of activities such as the China Tour of High-Quality Foreign w88 Products, and carry out in-depth integration of domestic and foreign w88. Relevant departments are accelerating to clear the bottlenecks and stuck points of the "export to domestic sales" policy, and various policies to expand domestic demand are also intensifying and expanding to maximize the accommodation effect of the domestic demand market.
Tu Xinquan: Subsidizing foreign w88 companies is a short-term means of coping with shocks. This is certainly not a long-term approach. From an internal circulation perspective, this is a strategic arrangement and an adjustment to our country’s strategic economic structure.
What impact does the tariff war have on the domestic demand market
Exports, investment and consumption have always been the "troika" driving the economy. In some developed countries, consumption contributes more than 70% to economic growth. In my country, this figure was 44.5% last year, which is a lot of room. This year's "Government Work Report" regards vigorously boosting consumption and expanding domestic demand in an all-round way as the top priority of economic work. Next, how to speed up consumption? What impact will this tariff war have on improving the domestic demand market?
The State Council once again released a clear signal at the Economic Situation Experts and Entrepreneurs Forum on April 9: expansion of domestic demand should be regarded as a long-term strategy, and efforts should be made to stabilize employment and increase income. Zhang Bin, an expert who participated in the meeting, said frankly that to do a good job in the next economic work, we must not only face the current challenges head-on, but also make long-term structural adjustments.
This year, among the "troika" that drives economic growth, consumption plays a particularly prominent role. Vigorously boosting consumption is not only regarded as the primary task of economic work, but also the biggest suspense affecting this year's economy.
Tu Xinquan: Exports and investment have played a greater role in promoting economic development in the past few years. We really can no longer rely on this method of fighting labor costs to participate in international competition. Our economic structure is constantly developing in a consumption-led direction. From the perspective of the economy of a large country, the proportion of consumption will definitely become higher and higher. This is a basic trend.
This week, as soon as the Trump administration announced the imposition of tariffs, it triggered violent fluctuations in global stock markets, and the trends in China's capital markets became the global focus. In the face of market shocks, Central Huijin decisively increased its holdings, and a number of central enterprises announced increases in holdings and repurchases. A series of powerful measures stabilized the market and confidence.
China has already taken action to boost consumption. The "w88-in" of consumer goods and the issuance of consumer coupons in various places have made many consumers feel the benefits. Real-money consumption subsidies have injected vitality into the consumer market.
In 2024, my country's total exports will exceed 25 trillion yuan, and the total retail sales of consumer goods representing domestic consumption will exceed 48 trillion yuan. Compared with the export market, the domestic consumer market is a larger blue ocean. To tap the huge potential of domestic consumption, the prerequisite is the steady increase in residents' income. Opening the "Special Action Plan to Boost Consumption" issued by the General Office of the CPC Central Committee and the General Office of the State Council in March this year, it is not difficult to find that "increasing residents' income" is placed in an important position. Recently, various regions have also implemented a number of measures to stabilize employment and increase income. Taking the "Millions of Talents in Southern Guangdong" campaign currently being carried out by Guangdong Province as an example, the local Social Affairs Department is recruiting talents from all over the country to develop in Guangdong. It is expected that each station will provide more than 10,000 jobs.
How to stabilize employment, increase income, and promote consumption?In the context of this tariff war, the key point is to expand domestic demand. At this year's Two Sessions, expanding domestic demand has been placed at the top of this year's top ten tasks. Facing the impact of tariffs and building a domestic market with strong demand can not only unleash vitality for economic development, but also make us more resilient in international competition.
Dean of the w88 casino of Public Policy, The Chinese University of Hong Kong (Shenzhen) Zheng Yongnian: I hope that the international environment has changed this time, but we can do our own things well and turn external unknowns into a huge driving force for internal reform to promote the development of our economy.
Bai Yansong: Is another round of tariff war initiated by the United States a good thing for China? Of course not, but can we not fight this battle? I believe that the vast majority of people have a consensus that we must fight. In the long run, this may not be really a bad thing. When things are going well, we will increase our strength, and when times are not going well, we will increase our abilities. We don't care whether others will regret it or not. The most important thing is to further reform, be more open, and do our own thing well so as not to regret it in the future.
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