Accra: China has rallied countries to ‘firmly oppose’ the sweeping tariffs imposed by US President Donald Trump to protect the global economic order and avoid crisis. The Asian country, which is the world’s second-largest economy, said the ongoing trade wars instigated by the US would not benefit any country but rather create economic difficulties at the expense of the vulnerable.
According to Ghana News Agency, addressing a press conference in Accra, Mr. Tong Defa, the Chinese Ambassador to Ghana, described the US tariffs as unfair and ‘an act of economic bullying.’ He noted that China was willing to come to the discussion table and resolve the issues amicably but would take resolute measures to safeguard the country’s sovereignty.
Mr. Tong emphasized the importance of unity among countries, pointing out that with the US accounting for about 13-14 percent of global trade, other nations had the collective power to stand against the tariffs in the interest of protecting livelihoods and maintaining global fiscal stability.
He further stated, “There are no winners in trade or tariff wars. Protectionism is a direct end. All countries should uphold the principles of extensive consultation, joint contribution, and shared benefit.” He warned that economic bullying that shifts risks onto others would ultimately backfire, and emphasized the shared responsibility of the international community to make economic globalization more open, inclusive, balanced, and beneficial to all.
The backdrop to the tensions is the sweeping export tariffs imposed by US President Donald Trump on April 2, affecting over 180 countries with the rationale of addressing a national emergency caused by foreign trade and economic practices. In response, some affected countries, including China, have announced retaliatory tariff hikes on US imported products.
Analysts have cautioned that the tariffs, which include 145 percent on Chinese products and 125 percent on US products, could severely disrupt the global economic order if the trade war between the two largest economies does not de-escalate. The International Monetary Fund has warned that global public debt could rise by 2.8 percentage points of GDP this year, pushing the total debt-to-GDP ratio above 95 percent.
Mr. Tong reiterated China’s commitment to opening up further to the world, regardless of changes in international trade. “We will steadily expand institutional opening-up in rules, regulations, management, and standards,” he said, while also committing to high-standard policies for trading, investment, liberalization, and facilitation.
In the context of Ghana and Africa, China has assured continuous deepening of development cooperation and support for Africa’s economic independence. Ambassador Tong expressed China’s support for the unification of the African continent, viewing Africa as a potential superpower. He encouraged Chinese companies to invest in Ghana and contribute to the country’s industrialization and job creation efforts. “We align with Ghana’s 24-Hour Economy, Feed Ghana Programme.We will support Ghana to achieve agriculture modernization and industrialization,” he concluded.
