(Source: Outlook Think Tank 2025-04-02)
The US government is scheduled to impose "reciprocal w88 online sports betting" on trading partners starting April 2.
The word "peer" is reciprocal in English, which can be translated as "reciprocal" or "peer". In the past trade mechanism arrangements, Chinese translations were mostly "reciprocity", reflecting the spirit of mutual benefit and win-win results of trade "partners".
The "reciprocal w88 online sports betting" promoted by the Trump administration are "one-size-fits-all" in terms of w88 online sports betting under the banner of "pursuing fairness". In essence, they violate the basic principles of economics, violate the rules of the WTO, and ignore the differences in economic development among countries. They are a new tool for promoting trade protectionism due to the "zero-sum game" thinking. This move will inevitably seriously undermine the multilateral trading system, impact global supply chains, and further intensify international trade tensions and global economic divisions.
1 How to "peer"?
The "reciprocal w88 online sports betting" proposed by the US mainly include three levels.
——"reciprocal tariff" at the national level
For example, if a country imposes 100% import w88 online sports betting on U.S. goods, the United States will also impose 100% w88 online sports betting on that country's goods.
——"peer-to-peer w88 online sports betting" at the commodity level
For example, the United States currently imposes a 2.5% tariff on certain goods from a certain country, but the other party imposes a 10% tariff on the same goods from the United States. Once "reciprocal w88 online sports betting" are implemented, the United States will increase w88 online sports betting on such goods imported from the country to 10%.
——"reciprocal tariff" at the level of non-tariff barriers
This level is relatively complex and involves value-added tax and other contents.
On March 24, US President Trump attended an event at the White House in Washington. Photo by Xinhua News Agency reporter Hu Yousong
The US claims that the imposition of "reciprocal w88 online sports betting" is to "reduce the trade deficit" and solve "other unfair and unbalanced trade issues" with trading partners. The tariff rates, industry subsidies, tax policies, etc. of trading partners are all factors used to evaluate the "reciprocal tariff" rate.
2 Why is it inappropriate
Experts said that the US's "reciprocal tariff" proposition is deceptive and confusing, but in fact violates economic laws, undermines international trade norms, ignores the results of the interest balance reached by the multilateral trading system in the past eighty years, and the fact that the United States has long gained a lot of benefits from international trade, have brought great harm to the United States and the world.
First, "reciprocal w88 online sports betting" violate the principle of comparative advantages of economics. This principle means that if all parties produce products with their own comparative advantages and then exchange them with each other, then all parties will benefit from it.
Take coffee trade as an example, the United States is a major coffee consumer country, but the production of American coffee beans is relatively small and the cost is relatively high due to geographical and climate reasons. Therefore, both parties can benefit from importing coffee beans from countries with relatively low production costs. At present, the United States does not impose w88 online sports betting on imported raw coffee beans, while Brazil, as a major coffee bean producer and the country with the largest export of coffee beans to the United States, has always imposed a tariff of about 9% on the coffee beans imported by its own country.
However, once "reciprocal w88 online sports betting" are applied, the United States will blindly follow Brazil's imposition of 9% w88 online sports betting, which will not only not help increase US coffee bean exports, because US coffee bean production itself is not internationally competitive, and will also harm the interests of millions of American coffee roasters and thousands of American consumers.
On March 28, customers were shopping for groceries in a supermarket in New York City, USA. Posted by Xinhua News Agency (photo by Guo Ke)
Tu Xinquan, Director of the China World Trade Organization Research Institute of the University of International Business and EconomicsIt points out that each country's product competitiveness is different, so each country will set w88 online sports betting that it thinks are more appropriate for its product categories, and achieve "reciprocity" by trading markets for markets when negotiating trade agreements. Being obsessed with all equality and complete equality is an irrational behavior.
Secondly, "reciprocal w88 online sports betting" violate WTO rules. Under the WTO's most-favored-nation treatment principle, members cannot discriminate against their trading partners.
Chad Bowen, a senior researcher at the Peterson Institute for International Economics in the United States, believes that "reciprocal w88 online sports betting" will violate WTO rules in at least two aspects: imposing different w88 online sports betting on different trading partners violates the promise of non-discrimination between WTO members; if the United States raises the tariff rate to the highest level agreed with other members, it will also violate the rules.
On November 9, 2023, the barista made coffee at the coffee week held in Belo Horizonte, Brazil. Photo by Xinhua News Agency reporter Wang Tiancong
Third, "reciprocal w88 online sports betting" ignore differences in economic development levels among various countries, which is tantamount to depriving some developing countries of their right to development. At the tariff level, the WTO does not require the principle of tariff reciprocity.
"In the case of unequal economic development and unequal economic strength, it is unfair for the United States to implement 'reciprocal w88 online sports betting' and will further widen the gap between the rich and the poor in the world." said Liu Feitao, deputy director of the China Institute of International Studies.
3 Behind the calculation
Experts pointed out that the Trump administration proposed "reciprocal w88 online sports betting". In addition to wanting to solve a series of domestic "chronic diseases", it is more important to use w88 online sports betting as a tool for trade negotiations to achieve a larger scope and deeper purpose.
Liang Guoyong, senior economist at the United Nations Conference on Trade and Development, pointed out that the motivations of the US government's recent tariff measures mainly include: reducing the huge US trade deficit; promoting investment in the US and accelerating the return of manufacturing; increasing tariff revenue and filling the fiscal gap brought about by the tax reduction policy; using w88 online sports betting as a means of pressure to achieve goals beyond the economy and economy.
On March 4, consumers shop in a store in Rosemead, Los Angeles County, California, USA. Posted by Xinhua News Agency (photo by Zeng Hui)
Stephen Innis, managing partner of SPI Asset Management, believes that the US government’s proposal of “reciprocal w88 online sports betting” may not be just to impose higher w88 online sports betting, but to use them as a bargaining chip to force other countries to engage in new trade negotiations with the US.
"Peer-to-peer tariff" is complex and difficult to operate. The British Economist website published an article saying that for every commodity, a single tariff rate will be replaced by hundreds of possible bilateral tariff rates, and things will become extremely complicated for products whose supply chains span multiple countries.
4 Who is the most injured
Before the US government has clarified the details of "reciprocal w88 online sports betting", it is still unclear which countries will "reciprocal w88 online sports betting" have the greatest impact. However, most countries that impose higher w88 online sports betting on US products are developing countries, including India, Brazil, Argentina, Southeast Asian and African countries. Bloomberg noted that "reciprocal w88 online sports betting" are expected to deal a heavy blow to underdeveloped economies, which have higher average tariff rates on U.S. products.
On March 10, a shop assistant placed notices on the shelves supporting the purchase of Canadian goods in a British Columbia liquor store in Vancouver, Canada. Xinhua News Agency (photo by Liang Sen)
Liu Feitao believes that although some underdeveloped countries are not the key targets of "reciprocal w88 online sports betting", they may be subject to greater impact. Under existing trade rules, these less developed countries are often allowed to impose higher w88 online sports betting on products imported from developed countries, while goods exported to the United States are subject to lower w88 online sports betting.
The "reciprocal tariff" policy will also harm the interests of American consumers and drag down the US's own economic growth. The forecast from the Yale University Budget Laboratory in the United States shows that after the implementation of the "reciprocal w88 online sports betting", if other countries do not take retaliatory measures, the price of personal consumption expenditure in the United States will rise by 1.7% in the short term, and the real GDP growth rate will fall by 0.6 percentage points in 2025; if other countries take retaliatory measures, the price increase of personal consumption expenditure in the United States will expand to 2.1%, and the real GDP growth rate will fall by 1 percentage point.
attached original link:w88 online sports bettingweixin.qq.com/s/9mB009s2GufX7uL3O6txMA
