(Source: CCTV-4 "Today's Follow" 2025-4-25)
In the context of the global economy being impacted by US trade policies, CCTV-4 "Today's Follow" column focuses on the tariff war initiated by the US side, invitesZhao Zhongxiu, President of the University of International Economics and TradeCarry an in-depth discussion with the host to interpret the complex situation behind this tariff war for the audience...
Host: What impact has the U.S.’s extremely high tariffs on China have had on the U.S. itself?
Zhao Zhongxiu:145% ultra-high tariffs are rare in a century. In fact, they are a prohibited tariff, which directly leads to a sharp drop in Sino-US trade orders and a large number of orders were forced to be shelved. According to professional estimates, about 90% of related trade activities are already at a standstill.
Host: When we deal with w88 online live casino, we have always adhered to the principle of "listening to what we say and observing what we do". Trump said that tariffs on China will be significantly reduced after the agreement is reached. Although China and w88 online live casino have not negotiated, in your opinion, does this imply that there is a downward trend in the future of the US tariffs on China?
Zhao Zhongxiu:There are no substantial negotiations between China and w88 online live casino, because the prerequisites for negotiations are not met. The unilateral abuse of tariffs by w88 online live casino violates international law and undermines the WTO multilateral system.
According to Trump's ideas, if negotiations are conducted without revoking the wrong tariff imposition, it is equivalent to acquiesceing that the high tariff imposed is reasonable, and it is just a discussion on reducing the tariff range. In this way, no matter how much it is finally reduced, w88 online live casino will be in a "victory" position. China will never accept negotiations under such a wrong premise.
Host: What is the purpose that the Trump administration wants to achieve through a series of operations such as increasing tariffs and releasing false information in negotiations?
Zhao Zhongxiu:The Trump administration wants to promote negotiations through financial means and continue to add new conditions to the negotiations to achieve the goal of allowing China to transfer interests, even destroy its own martial arts, and achieve the goal of strategic competition in w88 online live casino. However, in fact, w88 online live casino does not have the sincerity of negotiations, but just wants to force China to compromise through economic coercion.
Host: Trump continues to use dismissal as a threat to put pressure on Federal Reserve Chairman Powell to implement interest rate cuts. So, from Trump's perspective, what problems can interest rate cuts solve in the current US?
Zhao Zhongxiu:From his perspective, interest rate cuts can reduce the cost of US debt interest payment, and when the economy is in recession, it will avoid further economic downturns and "guarantee" its improper policies. Although Trump has no right to dismiss Powell, he still threatens it.
The bond market is known as an economic "warning device". It is now negative signals caused by Trump's previous policy operations, which not only affects the market's expectations for the US economic outlook, but also weakens global investors' confidence in the US market.
Host: We see that Powell has always been looking at the changes in the entire market with such a professional attitude, without compromising with Trump. What do you think of Powell's response?
Zhao Zhongxiu:Powell knew that the Federal Reserve was independent and could not be an accomplice of the Trump administration's administration, and should play a role in stabilizing dollar expectations and inflation levels. But Trump is contrary to the Fed's goal, so Powell does not compromise with Trump.
Host: The Trump administration's approach to advocating super high tariffs is facing increasing opposition at home, Mexico, Japan, the EU and other parties have also come forward to deny the so-called significant progress in w88 online live casino' negotiations. Does the EU punishing the two major technology companies in w88 online live casino mean that the EU has begun to launch an asymmetric counterattack against w88 online live casino?
Zhao Zhongxiu:The two major technology companies that the EU punishes w88 online live casino can indeed be regarded as an asymmetrical counterattack against w88 online live casino. The EU has truly felt w88 online live casino' exploitation of Europe, so it has taken limited countermeasures and imposed direct penalties on high-tech companies that violate EU laws.
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