The tariff war initiated by U.S. President Donald Trump's administration is a significant provocation to the global economic development, said Alexander Rahr, a German expert on international affairs.
While the Trump administration keeps touting tariffs as a means to bring back jobs and revive manufacturing, Rahr, in an exclusive interview with the China Central Television on Saturday, noted that these "self-defeating" tariffs will hinder globalization.
"The tariff policy taken by the Trump administration is a significant provocation to the global economy. It seeks to destroy globalization that has been known for decades. I believe this aligns with the Trump administration's objectives to utilize tariffs as a weapon and a tool to eliminate globalization," he said.
Rahr also noted that the United States has been facing multiple domestic challenges for a long time. It seeks to uphold the dominance of the U.S. dollar while simultaneously revitalizing its manufacturing industry. Nevertheless, the U.S. gross federal debt has surpassed 36 trillion U.S. dollars, rendering the debt-driven economic model increasingly unsustainable. In response, the U.S. government has attempted to divert domestic tensions by initiating a tariff war.
"The United States is currently facing huge problems at home. They had these issues in the past as well. These internal problems of the United States are essentially a sluggish economy, the soaring national debt, and the excessive reliance on trade with other countries. The Trump administration is attempting to forcibly change the status quo through tariff policies," he further said.
German expert sees US tariff war as significant provocation to global economic development
German expert sees US tariff war as significant provocation to global economic development
