(Source: CCTV "Dialogue" 2025-4-16)

From 34% to 245%, with increasing levels of tariffs, the US White House’s tariff policy is dizzying and overwhelming. This tariff policy has had a huge impact on the global economic and w88 structure. What impact will it have on global economic development? What challenges are faced by various countries and industries affected? What kind of breakthroughs are they making? April 16th,President Zhao Zhongxiu of the w88 casino is a guest on CCTV "Dialogue", Interpretation of "tariff blackmail" and the new breakthrough, let's take a look...

Host: The entire timeline of tariff policy is indeed a bit confusing.

Zhao Zhongxiu:Yes, the tariff war provoked by the United States in the past two weeks has left everyone at a loss. The United States has touched the bottom line of the world, and the global multilateral trading system promoted over the past 80 years has been greatly challenged. The so-called "reciprocal tariffs" proposed by the United States are highly deceptive and neither reciprocal nor just. According to the multilateral trading system, all countries must accept the bound tariffs they have committed to and are subject to a constraint. Now, the United States has broken the multilateral system that it personally promoted and challenged the whole world. It has added tariffs one after another and blackmailed a high price to achieve the purpose of forcing both parties to negotiate. The tariff increases from the initial 34% to 125% and then to 245%. This constitutes a prohibitive tariff and w88 cannot be carried out. Once the tariff exceeds 50%, it is difficult to continue w88, so whether it is 104% or 125%, it is meaningless. We will not play this kind of game played by children, so China announced, "You will continue to join in the future, but we will ignore it."

Host: Behind the tariff war, where will the main battlefield lead? For example, we have seen news that some US officials said, "We are considering delisting Chinese companies listed in the United States." At the same time, Hong Kong officials also promptly stated: "We have also made a series of preparations for the return of Chinese concept stocks to Hong Kong stocks."

Zhao Zhongxiu:The w88 war can be said to be a "frontline war", but behind it there are actually a series of financial wars and technological wars. The technological war has begun long ago, and a technological blockade against China has taken place. But can the world decouple from each other? As just said, these are two extremes. Whether it is 3 months, 6 months or longer, we are waiting to see the direction of the scale. Now that all countries are experiencing this kind of extreme pressure at the same time, as time goes by, everyone will gradually realize the nature and logic of the tariff war and make their own thoughts on the issue of "whether it can be sustained." Will this final result be as expected by the United States? Whether it is the reshoring of manufacturing or the reduction and balance of w88 deficits, Trump is not original. Obama has already tried this, but without success for more than ten years. Now the US wants to balance the situation overnight through this extreme pressure, which is impossible.

The tariff rate is so high that it has been rare in the past 100 years. Our company's business environment in the past should have been relatively smooth, but tariffs will impose constraints, including 3% to 5% in developed countries. In developing countries, it is 10%~15%. This bound tariff is an upper limit constraint, and the actual implemented tax rate is actually not that high. But now, the tariffs have been increased to 30%, 50%, or even higher. The market's immediate reaction is to "stop first and press the pause button", but in fact they are still competing for endurance and who can withstand the pressure until the end. The United States' imposition of such high tariffs is a manifestation of self-isolation - the European Union made an analysis: from a global perspective, the United States only accounts for 13% of the market, and 87% is normal w88. Therefore, we have seen that exports to the United States have been suspended, but exports to other regions are still within normal limits, and there has even been a situation where "European orders to France have exploded." As soon as the goods exemption list came out, the world felt that American industries could not withstand it, especially when people in the United States showed their desire for products made in China and their enthusiasm for hoarding goods. I have been paying attention to a piece of news in the past two days: on the App Store rankings in the United States, a btob cross-border e-commerce platform from China suddenly broke into the top three, and its download volume reached an astonishing 940%. This website has suddenly become popular. Behind the "vast wealth" is the desire of American businesses and people for products made in China, which can promote the prosperity of China's e-commerce.

We have noticed that production and supply chains are moving overseas in an orderly manner. In a sense, this is a way to promote the industrialization process of a broader market in a reduced dimension, better meet the needs of the markets of developing countries, and nest the Chinese economy and the global economy more closely together. This is also China's contribution to the development of an open world economy. Therefore, this tariff war provides an opportunity to accelerate our economic transformation.

There is a word that is mentioned repeatedly in the tariff policy introduced this time, that is, "reciprocal tariffs", which is also called mutual benefit in positive w88 practices. One country lowers tariffs and delivers these benefits to other countries. If I give you preferential treatment, you should also give preferential treatment to me. Let's work together to reduce tariffs. This is what we call the multilateral trading system. This is what the world has been doing for the past 70 years or so. At the same time, on the negative side, if a country breaks the rules, then other countries can "retaliate". I will increase tariffs on you as much as you increase tariffs on me. According to WTO rules, raising tariffs is allowed, but the United States has given a complicated formula. The numerator x in the formula is generally exports and m is imports. Dividing the w88 balance by the import volume yields a level that is essentially highway robbery.

This kind of unilateral and indiscriminate application of tariffs has demonstrated a great destructive power, which has shaken the pillars of the post-war world economy and the trading system, returning to the era of "the weak and the strong", which is very harmful to the world. Suppose I want to impose a 50% tariff on you now. If you immediately give in and ask if you can negotiate, then you have already lost and you have fallen into a trap. The "Smoot-Hawley Tariff Act" of 1930 is still fresh in everyone's memory. History textbooks give it the qualifier "infamous". This is the consensus of the world because it led to the further deterioration of the great economic crisis from 1929 to 1933. President Hoover originally planned to use high tariffs to lock in prosperity, but in fact it not only failed to lock in prosperity, but also led to an exacerbation of recession, with world w88 shrinking by two-thirds. The manufacturing capacity of the United States was cut in half, and after learning from the painful experience, the subsequent tariff concessions were implemented. After nine rounds of negotiations, a positive result was finally achieved. Now we have returned to 100 years ago overnight, and once again hit the wall of history.

Trump pursues tariff revenue because he wants to solve the problem of the U.S. fiscal deficit. To "make money" is to fall into a paradox of both wanting and wanting. In order to maintain the hegemony of the US dollar and improve the balance of payments caused by excessive consumption, the whole world must cooperate. Tariffs are not a panacea, but the United States not only over-medicates itself, but also asks the whole world to take medicine. This is the illusion brought about by tariffs. The lessons of history are too profound, and this road is a road of no return. The social stratification in the United States is very serious. People in the middle and lower classes have very little income and their lives have not improved. (The United States) mistakenly blames this social problem on foreign competition and the introduction of foreign goods, trying to bring manufacturing back to the country so that everyone has jobs. In fact, the understanding of work in the United States may still be stuck in the 1960s and 1970s. Today's advanced manufacturing and smart manufacturing are actually more complex and cannot be realized with the current conditions of the American labor force. As the U.S. Secretary of Commerce said, "In that case, these high w88 casino students in the United States over the age of 18 can screw screws to make iPhones. It should be said that this is a strange theory. These financiers do not know how real high-tech industrial products are produced.

As for the outcome of the tariff war, I am choosing between optimism and pessimism. I think we are in a confrontation stage now. From a game theory perspective, this is like a "coward's game". Whoever blinks first loses. Now, we have the confidence to confront each other. "The brave will win when we meet on a narrow road." In this case, 6 months should be a better node. Everything is related. Previously, the U.S. Treasury debt reached a peak in June. It should also be considered that the United States will prepare for the mid-term elections and there are many domestic variables. I believe that the balance will definitely tilt in the direction of rationality and justice. We must persist. Persistence is victory.

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