Less than two weeks into its new administration, the U.S. has reignited its use of the \"tariff stick\" under the \"America First\" policy, sparking widespread criticism from the international community. Recent surveys by CGTN reveal that a staggering majority of global respondents worry that these unilateral tariffs will not bolster the U.S. economy but instead exacerbate the world's sluggish economic recovery.
According to the surveys, 90.53% of participants condemned the U.S. protectionist trade measures as serious violations of World Trade Organization (WTO) rules. Additionally, 90.68% viewed the U.S.' economic coercion as a display of bullying, while 92.14% believed it undermines global market stability and hampers long-term economic recovery.
The U.S. has been criticized for bypassing the WTO dispute settlement mechanism and instigating trade frictions based solely on domestic law. Despite the WTO ruling that the U.S. \"Section 301\" measures violate its rules, the U.S. continues to impose tariffs on industries such as maritime, logistics, and shipbuilding.
Experts warn that the cost of these tariffs will burden U.S. consumers, with Moody's estimating that 92% of the tariff costs on China are absorbed by American households, adding an average of $1,300 annually. Furthermore, 61% of global respondents believe the U.S. tariff policy will significantly impact their lives.
The ripple effects are felt worldwide, with many countries considering countermeasures that could escalate into a full-scale trade war. In Europe, 53.8% of respondents are concerned about the negative impact on the global economy. Moreover, 67% feel that the \"America First\" approach is isolating the U.S. from its traditional allies, and 65% agree that these foreign policies are diminishing U.S. leadership on the global stage.
The data stems from two global surveys and multiple online polls conducted by CGTN, encompassing 14,071 respondents from 38 countries, including both developed nations like the United States, Britain, Canada, and Japan, and developing countries such as India, South Africa, Brazil, and Mexico.
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U.S. uses 'tariff stick' again, respondents fear worsening economy
cgtn.com
