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E-mail Xinhua, September 14, 2024
The U.S. administration has again used protectionism tools to impede Chinese goods from entering the U.S. market, underscoring its typical trade bullying and hegemony.
The Office of the United States Trade Representative announced on Friday tariffs including a 100% duty on electric vehicles (EVs), 50% on solar cells and 25% on steel, aluminum, EV batteries and some key minerals imported from China, effective from Sept. 27.
The U.S. administration has followed its previous misguided policy by imposing additional tariffs on Chinese goods under Section 301. The Section 301 was obviously a product of the Cold War era that contradicts current international trends and should be thrown into the dustbin of history.
The U.S. protectionism against Chinese goods demonstrates its hegemonic mentality of pursuing absolute advantage, and its relentless suppression of China.
Hampering low-priced, high-quality Chinese EVs from entering the U.S. market will not protect U.S. workers and businesses, as it will only render U.S. consumers to bear higher costs, drive up U.S. commodity prices and exacerbate inflation.
An average U.S. household paid over $300 more in 2023 due to Washington's tariffs targeting imports from China, mainly because of higher tax burdens and market efficiency losses, said a U.S. Tax Foundation research published in June based on actual revenue collection data.
"With a variety of U.S. policies now adding tariffs and other restrictions to Chinese goods and services, many have had to find ways to either bypass the restrictions or simply absorb the added cost, further reducing competitiveness," according to a report in The Diplomat.
The U.S. side should know that China cannot permanently stay at the medium and low end of the industrial chain. China has the capability, the need and the right to climb up toward the medium and high end. The truly harmful practices are not Chinese industry policy, but the United States' own short-sighted, narrow-minded and Cold War mentality-obsessed trade policy.
Sino-U.S. economic and trade relations are mutually beneficial in nature. Suppressing China's economic and technological advancement hurts the United States itself as well as others. The U.S. administration should stop making mistakes and return to the right track.
