Rising tensions in global trade are under the spotlight as the U.S. increases tariffs on industries like electric vehicles (EVs) and semiconductors, but experts caution this approach risks exacerbating economic challenges rather than solving them. Chen Weidong, deputy dean at the University of International Business and Economics, warns that tariffs alone cannot resolve structural issues in the U.S. economy, calling instead for innovation and cooperation.
\"Tariffs may protect domestic industries in the short term, but they harm consumers, disrupt supply chains, and slow the global green transition,\" Chen wrote in a recent analysis. He highlighted how Chinese EVs, priced around $18,000, offer affordability critical for accelerating decarbonization — a benefit undermined by trade barriers.
The semiconductor industry faces similar friction. With Chinese chipmakers rapidly advancing, U.S. restrictions risk fragmenting a sector vital to AI, robotics, and 5G development. Chen stressed cross-border collaboration as key to sustaining tech progress: \"No single economy can dominate every stage of production.\"
Young professionals and sustainability advocates are watching closely, as these policies impact climate goals and job markets. Meanwhile, businesses navigating tariff-driven costs may rethink investments in renewable energy and emerging markets.
As G20 nations weigh growth strategies, Chen\u2019s message resonates: Economic resilience requires dialogue, not division.
Reference(s):
cgtn.com
