The fresh U.S. tariff policy means protectionism which bucks the trend of the world economy and is bound to pose risks to the United States itself, a Japanese economist said on Saturday.
As part of the "reciprocal tariffs" announced by President Donald Trump, Japan will be subject to a 24 percent levy on its exports to the U.S.
Furthermore, a previously announced 25 percent tariff on all car imports took effect as scheduled on Thursday in the U.S., dealing a major blow to the Japanese auto industry.
Hidetoshi Tashiro, chief economist at Infinity LLC, a Japanese consulting firm advising stock trading and real estate management, said Japan's pillar automobile industry will bear the brunt of the U.S. reciprocal tariffs and tariffs on automobiles, with some companies even facing a life-or-death crisis.
The expert believes that the U.S. tariff policy will also worsen inflation in the United States and have a negative effect on global trade.
"This tariff policy will only add fuel to the fire, rather than extinguishing it. In the current environment of severe high prices in the U.S., the life of U.S. citizens will become even more difficult. Moreover, under the impact of this tariff policy, global trade volume will clearly shrink. The production of exported goods from various countries will decrease. This tariff policy is completely unreasonable for the development of the global economy, and even for the development of the U.S. economy itself," he said.
The expert believes that the U.S. trade protectionism is at odds with global economic trends.
"The U.S. is no longer engaging in free trade at all, or we can even say it is undermining free trade. It's not just protectionism, it's essentially destroying free trade. The United States is disconnecting from the world economy, and this is a very serious issue," said the economist.
US new tariff policy bucks global trend, harms itself: Japanese economist
US new tariff policy bucks global trend, harms itself: Japanese economist
US new tariff policy bucks global trend, harms itself: Japanese economist
Visiting Chinese Foreign Minister Wang Yi said Saturday China is willing to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and advance the China-Lesotho strategic partnership.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lesotho Prime Minister Sam Matekane in the capital of Lesotho.
During the meeting, Wang congratulated Lesotho on the 60th anniversary of its independence this year, and spoke highly of Lesotho government's efforts to prioritize economic development and steer the African country onto a path of sustainable growth. Since the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024, the two sides have advanced cooperation under the 10 partnership action plans unveiled at the summit, successfully implementing a number of key projects to effectively promote Lesotho's development and revitalization, Wang said.
China stands ready to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and push for greater development of the China-Lesotho strategic partnership, he added.
Calling on the two sides to firmly support each other, Wang said that China will accelerate the implementation of its zero-tariff policy for African countries, including Lesotho, expand bilateral trade, investment and industrial cooperation, facilitate broader access of Lesotho's specialty products to the Chinese market, and continue to support Lesotho's national development.
China will continue to stand firmly with African countries, uphold justice for the Global South, including Lesotho, oppose unilateralism and acts of bullying, and work together to build a community with a shared future for humanity, Wang said.
On his part, Matekane said during the meeting that Lesotho cherishes its friendship with China and the strategic partnership between the two countries, and expressed gratitude for China's valuable support for the development of African countries, including Lesotho.
Lesotho firmly adheres to the one-China principle and resolutely supports China in safeguarding its core interests, he said, noting that his country stands ready to strengthen strategic mutual trust with China, expand people-to-people exchanges, jointly implement the outcomes of the FOCAC Beijing Summit, and deepen cooperation in areas such as infrastructure, manufacturing and energy.
Matekane stressed that China's zero-tariff policy for African products will inject new impetus into Lesotho's development. He also expressed Lesotho's willingness to strengthen solidarity and cooperation with China on multilateral platforms such as BRICS to jointly address global challenges.
On the same day, Wang also held talks with Lejone Mpotjoana, minister of foreign affairs and international relations of Lesotho.
China, Lesotho to strengthen exchanges, advance cooperation
China, Lesotho to strengthen exchanges, advance cooperation
