At the Munich Security Conference in Munich, Germany, the unilateral trade policies of the United States and the abuse of tariffs were subjected to harsh criticism. In his speech, Chinese Foreign Minister Wang Yi emphasized that the US is using tariffs as a tool of pressure, which is causing serious damage to the global economy.
Wang Yi said that Washington’s protectionist policies and arbitrary tariff hikes violate global trade rules. He said that with such measures, the US is trying to put not only China but also many other countries under economic pressure. “The US is undermining the international trading system by using tariffs as a weapon. Such unilateral actions have a negative impact not only on specific countries, but on the entire world economy,” Wang said, adding that trade should be conducted within the framework of a rules-based, fair and open system. Unilateral tariffs by the US disrupt global supply chains, increase uncertainty in international markets and threaten the economic growth of countries, Wang Yi said. Wang emphasized that China supports free trade and the multilateral trade system should be preserved. “Trade wars are conflicts with no winners. These policies of the US have a negative impact not only on China but also on its own allies.” Wang warned that such practices could trigger economic recession around the world. At the Munich Security Conference, there was broad consensus on the need to protect free trade and reduce risks to the global economy. If the US continues to use tariffs as a policy tool, it is predicted that this will seriously affect not only the trade relations between China and the US, but also the global economy.
