Xinhua published a commentary immediately after U.S. President Trump signed the order to impose tariffs based on the result of the Section 301 Investigation. The commentary said this “typical” unilateralism and trade protectionism position only put the United States on the opposite side of the whole world. The U.S. move will seriously undermine the global multilateral trading system and disrupt the normal international trade order. This protectionism is going completely against the world’s trend of globalization. Xinhua also suggested that all these things the Trump administration did will not even serve the best interests of the United States itself. The immediate free fall of the U.S. stock market after the bad news was obvious proof that the U.S. policies could only cause panic among global investors. In the long run, the American image of uncertainty will damage the national reputation of the United States as well as the core U.S. competitiveness. The commentary ended with the call for the United States to pull back before it’s too late.
Source: Xinhua, March 23, 2018
http://www.xinhuanet.com/world/2018-03/23/c_129836554.htm