Trade Wars Benefit No One — Cooperation is the Future, Says YAN Yuqing

In recent years, the United States has frequently reversed the course of globalisation under the pretexts of “trade imbalance” and “national security,” imposing tariffs on multiple countries.

Most recently, the United States has once again willfully imposed tariffs on all its trading partners, including China, under various pretexts. These actions severely infringe upon the legitimate rights and interests of all countries, severely violates World Trade Organisation (WTO) rules, severely undermines the rules-based multilateral trading system, and severely disrupts the global economic order.

Ms. YAN Yuqing, Consul General of the People’s Republic of China in Lagos expressed her thoughts in a press statement on Monday.

“The Chinese government strongly condemns and resolutely opposes such move.
Unilateral Tariff Hikes Undermine the Multilateral Trading System, and Shifting Blame Cannot Solve Domestic Problems.

“By taking such actions, the United States defies the fundamental laws of economics and market principles, disregards the balanced outcomes achieved through multilateral trade negotiations, ignores the fact that the U.S. has long benefited substantially from international trade, and weaponises tariffs to exert maximum pressure for selfish interests. This is a typical act of unilateralism, protectionism and economic bullying,” says Yuqing.

Under the guise of “reciprocity” and “fairness,” the United States is playing a zero-sum game, pursuing in essence “America First” and “American exceptionalism.” 

She added: “It attempts to exploit tariffs to subvert the existing international economic and trade order, put U.S. interests above the common good of the international community, and advance U.S. hegemonic ambitions at the cost of the legitimate interests of all countries.”

Such actions, the consul general cautioned, will inevitably face widespread opposition from the international community. We have emphasised more than once that trade and tariff wars have no winners. Protectionism leads nowhere.

“We urge the U.S. to stop doing the wrong thing, and resolve trade differences with China and other countries through consultation with equality, respect and mutual benefit,” she said.

As Professor Sheriff Ghali, an international relations expert at the University of Abuja stated in an interview with Xinhua News Agency, “When you impose more tariffs, you are harming yourself. And the trade war has a significant negative impact on economic globalisation, this is a kind of selfish foreign policy inertia, it has been so selfish in dealing with the international system”.

According to Yuqing, tariff hikes increase the cost of imported goods, directly fueling inflationary pressure within the United States. “Consumers and businesses bear the brunt, with many small and medium-sized enterprises forced to lay off workers or even shut down due to rising costs.

“If tariffs continue to be wielded as a weapon, they will not only harm the interests of other countries but inevitably backfire on the United States itself. In today’s highly interconnected global economy, unilateralism and protectionism can only lead to a lose-lose outcome.”

China to Further Expand Opening-Up and Uphold the Multilateral Trading System, and Sharing Development Opportunities with the World. In 2024, China’s economy continued to grow steadily, with its GDP increasing by 5 per cent year-on-year, ranking among the fastest-growing major economies globally. China’s contribution to global economic growth remained at around 30%, and the advantages of its ultra-large-scale market continued to be fully leveraged, serving as a stabilising force for global industrial and supply chains.

Despite unprecedented uncertainties in the external environment, China’s economic resilience has continued to strengthen. The long-term positive trajectory of the Chinese economy remains unchanged. “China is confident and capable of achieving its 2025 economic growth target of 5 per cent.”

As the world’s second largest economy and second largest market for consumer goods, Yuqing said China is committed to opening ever wider to the world, no matter how the international situation changes. 

“We will continue to advance high-standard opening-up. We will steadily expand institutional opening up in rules, regulations, management, and standards.

“We will implement high-standard policies for trade and investment liberalisation and facilitation. We will foster a first-class market-oriented, law-based, and internationalised business environment. And we will share our development opportunities with the world to achieve mutual benefits,” she noted.