The U.S. President Donald Trump's tariff measures will only depress investment and create more uncertainty, an American political and economic affairs expert said in Beijing.
On Friday, Trump said he is open to negotiating with countries seeking to avoid U.S. tariffs but emphasized that talks will only begin after April 2, possibly after the announcement of additional tariffs.
Einar Tangen, a senior fellow at the Beijing-based think tank Taihe Institute, pointed out that Trump is using tariffs as bargaining chips to threaten other countries, in a Skype interview with China Global Television Network (CGTN) on Sunday.
"How many years have we heard the narrative that you cannot depend on China? That they'll use their economic heft to somehow corner you. Now it appears it's the U.S. that is the real danger,” said Tangen. “Trump's tactics have remained the same, but the world has changed. Trump is playing poker collectively, and his opponents have better cards. If they call his bluff, it's going to be over for him. Taking on the entire world was a mistake. Bullies usually focus on weaker opponents, using them as examples to frighten others."
Starting with steel, aluminum, and cars, and potentially extending to pharmaceuticals and wines, Trump claims he will secure all possible trade advantages for the U.S. The president argued that these tariffs would encourage more production to relocate to the U.S., generate new government revenue, and help reduce the national debt.
Tangen believes Trump's trade actions are a form of bluffing and will ultimately harm the U.S. economy and increase global uncertainty.
"He is bluffing. What he's doing is taking money out of American consumers' pockets, and he thinks he can dole it back to them, and they'll be somehow thankful. The U.S. has vulnerabilities in terms of inflation and collective tariff retaliation. Trump is taking money from one side, his own taxpayers, and then he thinks he can give it back to them as tariffs and that this will somehow be welcome. His effort to control the economy and reindustrialize America will only depress investment and create more uncertainty," said the senior fellow.
Trump's tariff measures will depress investment, increase uncertainty: expert
Trump's tariff measures will depress investment, increase uncertainty: expert
A major port in northern Venezuela came under U.S. airstrikes in the early hours of January 3, which caused extensive damage to civilian infrastructure, destroyed critical medical supplies in a warehouse, and severely impacted centuries-old cultural heritage sites, according to local residents.
The La Guaira Port, a vital hub for imports that support daily life in the region, was heavily damaged during the attack.
Large quantities of medical supplies stored at the port were destroyed. A historic cultural building dating back for some 300 years was also badly damaged by the bombardment.
Residents living near the port recalled the terrifying scenes as explosions shook nearby neighborhoods.
Humberto Bolivar, who lives in a community separated from the port by only a main road, said the blast waves shattered his home's windows, while stray shrapnel struck the water tank on his roof. According to reports, three missiles were fired at the port that night.
Bolivar said that beyond material losses, he is most concerned about the psychological impact on his children, who remain too frightened to leave their home days after the attack.
"The United States invaded our country. The children were frightened. This is not good for them, because it leaves some children with psychological trauma. They do not want to go to school or leave the house, because they are afraid that something worse might happen. We truly do not want this to happen to our country," he said.
Apart from civilian facilities, local cultural heritage site was also affected.
The La Guaira state government building, a structure with nearly 300 years of history and once served as the site of Venezuela's first national customs office, was struck by the force of the explosions.
Windows of the building were shattered, and furniture scattered across the floor.
"As people of La Guaira, we feel deep pain. Our cultural heritage has been bombed. We are living in constant anxiety and suffering, and life can no longer be the same as it was before," said a local named Henry Cumares.
The U.S. side has claimed the airstrikes targeted warehouses allegedly used to store narcotics. However, locals refuted such accusation.
"According to what Donald Trump said, they bombed this place using the excuse that the warehouses here were used to store drugs at the port. But based on the video released by our governor, these warehouses that were burned contained medicine for kidney patients and foods. Many people depend on these supplies to survive. I think the bombing is extremely despicable," said a local resident named Alejandro Capriles.
US strike hits Venezuelan port, wrecking medical supplies, heritage building
