According to foreign media reports, on May 16, the International Monetary Fund (IMF) publicly criticized the U.S. government for raising some tariffs on China, saying that more trade restrictions may damage global trade and economic growth.
The IMF said: The United States is more in its own interest to maintain an open trading system than to impose new punitive tariffs.
, when asked in Washington about the tariff restrictions announced by the Biden administration earlier this week, IMF spokesperson Julie Kozack said on the 16th:”Our view is that the United States should better maintain an open trade policy, which is also crucial to its economic performance.
” Kozak mentioned that IMF statistics show that trade restrictions have increased significantly in recent years: in 2023, about 3000 trade restrictions were implemented globally, three times the number of measures implemented in 2019.
She said the trade restrictions “could distort trade and investment, disrupt the global economy and supply chains, and trigger retaliatory actions.
” “This divergence could be costly to the global economy.
” Kozak pointed out that according to IMF calculations, in a worst-case scenario where geopolitical groups are “severely divided”, global gross domestic product (GDP) could fall by about 7%, equivalent to the combined GDP of Japan and Germany.
She added that if there are also technology supply interruptions, the cost will be higher.
In addition, Kozak also announced that IMF First Deputy Managing Director Gita Gopinath will travel to Beijing from May 26 to 29 to meet with the Chinese delegation for Article 4 consultations.
She previously warned that differences between the U.S. -led Western economic bloc and China endanger global trade cooperation and economic growth.
It is reported that U.S. President Biden announced on the 14th that he would impose additional tariffs on approximately US$18 billion of Chinese goods, including electric vehicles, lithium batteries, photovoltaic cells, semiconductors, steel, aluminum, and personal protective equipment.
Chinese Foreign Ministry spokesman Wang Wenbin responded on the 15th that the United States continues to politicize economic and trade issues and further increase tariffs on China.
This is a mistake that will only significantly increase the cost of imported goods and make American companies and consumers bear more.
The losses cost American consumers a greater price.
Wang Wenbin said that according to Moody’s calculations, American consumers bear 92% of the cost of imposing additional tariffs on China, and American households spend an additional $1300 a year.
The US’s protectionist measures will also cause greater damage to the security and stability of the global production and supply chain.
“We have noticed that many European politicians have said that imposing tariffs is the worst way to undermine global trade.
” “We urge the United States to earnestly abide by WTO rules and immediately cancel the measures to impose additional tariffs on China.
China will take all necessary measures to defend its rights and interests.
” Wang Wenbin said, Return to the first electric network home page>,.
