China challenges Trump’s economic ‘bullying’

A tin god voted into power by the majority of the US electorate: pompous, arrogant, self-important and overly proud are some of the traits of US President Donald Trump.

His famous brand promise: “Make America great again”, has brought no greatness, other than haunting the American society, his supporters, financial backers and global trade.

With the Trump euphoria taking a dip in the US, the phase has become synonymous with economic uncertainty, jittery markets, disregard for internationally accepted trade rules and prescripts of international bodies like the United Nations.

Like a young, spoilt brat, playing with the lights in his mother”s home – switching them on and off as he pleases, because no elder would dare put him in his place – has become Trump”s dangerous game in the sphere of trade tariffs.

It is a game the world is yet to see end.

At first, there was Trump randomly reading from his long list – countries he was slapping with hefty reciprocal trade tariffs.

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These included US friends and foes.

In his erratic style, the self-styled “president of the world” later announced a 90-day pause – what many political and economic experts have correctly characterised as Trump”s ploy to use the period to squeeze other countries to submit to trade terms favouring the US.

With this tariff reprieve, he left out China – the world”s second-largest economy – despite America heavily dependent on the Asian economic giant for a vast array of imported goods.

US business experts like economist Erica York, vice-president at the Tax Foundation”s Centre for Federal Tax Policy, warned of Trump”s 145% tariff on Chinese imports “stopping most trade between the US and China”.

“There may still be some things without any substitutes that companies just have to foot the bill for, but for the most part, that cuts it off.”

American Apparel & Footwear Association CEO Stephen Lamar has cautioned about Trump”s the sudden policy changes and high tariffs disrupting supply chains at an unprecedented level.

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With new economic global alliances being forged, the trade war with China is bound to lead to irreversible damage for US businesses.

Reaping what he has sowed, which has led to an American business backlash, Trump over the weekend announced exempting computers, smartphones, semiconductor manufacturing equipment, integrated circuits and other products from reciprocal tariffs.

All these are Chinese imports, much-needed by American tech companies.

Chinese Foreign Minister Wang Yi could not have put it better when he warned that the US could not act arbitrarily.

Wang blamed the US for the global volatile and chaotic international situation, particularly pushing unilateral bullying.

“The United States has been wantonly imposing tariffs, openly placing its own interests above the common interest of other countries and blatantly disregarding the multilateral trade regime and established rules.

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“The international community cannot stand idly by,” said Wang.

“China stands up to oppose hegemonism, not only to safeguard its own legitimate rights and interests. We also protect the common interests of the international community,” he said.

This year marks the 80th anniversary of the founding of the UN.

Wang said: “As a permanent member of the UN Security Council, China is ready to take the anniversary of the founding of the UN to firmly uphold the international system, with the UN at its core and the international order underpinned by international law.

“We pledge to work with other countries to resist all reckless moves in the world.”