Global concern is mounting over the United States' recent tariff policies, as surveys indicate that these measures may hinder the global economic recovery.
Less than two weeks after taking office, the new U.S. government has wielded the \"tariff stick\" against several countries. Its \"America First\" policy has sparked widespread criticism and concern from the international community. According to multiple global surveys conducted by CGTN, respondents generally believe that the U.S.' unilateral imposition of tariffs on other countries will not bring substantial growth to the U.S. economy but will worsen the sluggish recovery of the world economy.
In the surveys, an overwhelming 90.53 percent of global respondents criticized the U.S. government's protectionist trade measures as a serious violation of World Trade Organization (WTO) rules. Additionally, 90.68 percent believe that the U.S.' indiscriminate economic coercion against other countries highlights a bullying and overbearing stance, while 92.14 percent consider that such actions have seriously undermined the stability of the global market and will have a long-term negative impact on the global economic recovery.
In recent years, the U.S. has been accused of damaging the basic principles of the WTO by bypassing its dispute settlement mechanism and provoking international trade frictions based solely on U.S. domestic law. Despite the WTO ruling that the U.S. \"Section 301\" tax measures violated WTO rules, the United States continues to investigate other countries' maritime, logistics, and shipbuilding industries, raising tariffs on some imported products.
Experts warn that the U.S. government's unilateral tariff increases on other countries will eventually be \"paid for\" by its own consumers and could strain relationships with traditional allies. According to Moody's estimates, 92 percent of the cost of the U.S. tariff increase on China is borne by U.S. consumers, with households spending an additional $1,300 each year due to tariffs. In response, 61 percent of global respondents believe that the U.S. tariff policy will have a profound negative impact on their own lives.
Many countries have stated that they will take countermeasures against U.S. tariff actions, raising concerns about a potential \"trade war\" on a global scale. The surveys revealed that 53.8 percent of European respondents think that U.S. trade barriers will have a serious negative impact on the global economy. Furthermore, 67 percent of global respondents believe that the \"America First\" concept emphasized by the new U.S. government will make its traditional allies feel ignored and isolated, and 65 percent agree that the foreign policy adopted by the new U.S. administration is weakening its leadership in the international community.
The data comes from two global surveys and multiple online polls conducted by CGTN, involving 14,071 respondents from 38 countries around the world. Participants included individuals from developed countries such as the United States, Britain, Canada, and Japan, as well as developing countries like India, South Africa, Brazil, and Mexico.
Reference(s):
U.S. uses 'tariff stick' again, respondents fear worsening economy
cgtn.com
