Trade war a threat to global supply chain

The United States has adopted unilateral and trade protectionist measures in violation of established international trade rules and launched a trade war against China, and triggered trade disputes with other economies including the European Union, Canada and Mexico. The US' trade protectionist moves are seriously undermining international trade and the world economy, and disrupting the global supply and industrial value chains, destabilizing the global resource distribution system and harming multinational companies' productivity.

The US' protectionist measures have not only intensified trade fictions but also fanned anti-globalization passions in several countries. True, the trade war is hurting Chinese enterprises, but it is also hurting American enterprises and consumers, and the global economy.

The US' moves have also created serious challenges for the sustainable development of international trade and investment. According to the International Monetary Fund's World Economic Outlook, tariffs cannot strike the right balance in bilateral trade. Instead, hiking tariffs on a large scale will weaken the global economy. In fact, the IMF has downgraded its forecast for international trade and global economic growth in 2019, due chiefly to the trade war.