The United States has once again weaponized its tariff policy by imposing tariffs on Canada, Mexico, and China. Ostensibly, these tariffs aim to reduce Washington's trade deficit with these countries and increase fiscal revenue. They may also serve as a bargaining chip in negotiations.
However, in the long run, such measures create tensions in the global market and disrupt supply chains. By igniting trade conflicts, the US is effectively setting off a time bomb that threatens the stability of international trade. There are no winners in a trade war.
The ripple effects of these tariffs extend beyond the targeted countries. Global businesses, investors, and consumers may face increased costs and uncertainty. Market analysts warn that prolonged trade tensions could hamper economic growth worldwide.
As supply chains become entangled and international cooperation wanes, the global community stands at a crossroads. It is imperative for nations to seek collaborative solutions that promote fair and open trade, ensuring economic prosperity for all.
Reference(s):
cgtn.com
