Article: Critique of U.S. tariff policy with advocacy for multilateralism
By Stephen G. Fellajuah
Recently, under the banner of “America First,” the United States has imposed unjustified tariffs on all trading partners, including China. These tariffs have triggered severe shocks across global economies, stirred turmoil in international financial markets, drawn widespread condemnation, and caused domestic instability.
This represents a typical example of unilateralism, protectionism, and economic bullying. Such actions severely harm the legitimate rights and interests of all nations, violate World Trade Organization (WTO) rules, sabotage the rules-based multilateral trading system, and destabilize the global economic order.
Chinese Ambassador to Liberia Yin Chengwu shared that the Chinese government strongly deplores and firmly rejects such moves. “The international community cannot stand idly by. The wheels of history must not be reversed,” he emphasized.
The United States is not a victim but rather a major beneficiary of global trade. Its justification for tariffs, based on a chronic goods trade deficit, ignores its clear advantages in services.
According to WTO Director-General Ngozi Okonjo-Iweala, America enjoys a services trade surplus of nearly $300 billion (as of 2024) with most major economies. More importantly, the U.S. holds near-monopoly power in high-value-added services, collecting over $144 billion in annual intellectual property royalties, far exceeding other nations. Therefore, the claim that “America loses” due to merchandise trade deficits is fundamentally flawed.
Chengwu noted that the U.S.’s reckless imposition of tariffs harms both itself and others. By levying “reciprocal tariffs” unilaterally, outside the WTO dispute settlement framework, the U.S. has undermined decades of progress in multilateral trade since World War II.
This protectionist move has damaged multilateral trade rules, fragmented the global economy, disrupted supply chains, and weakened international confidence in globalization.
The economic fallout was immediate: U.S. stock markets plunged after the tariff announcement, wiping out $5 trillion in market value within 48 hours. A Yale University report predicts that a broad 20% tariff could cost the average American family $4,200 annually and increase U.S. business costs by $433 billion.
History and current data show that tariffs do not fix the underlying problems facing the U.S. economy.
China, by contrast, remains committed to true multilateralism and to safeguarding the international trading system. It firmly believes that development is a universal right, not a privilege reserved for a few.
In recent years, China has created green channels for African exports, hosted international trade expos, and supported the entry of high-quality specialty products from least developed countries into its market.
Initiatives such as skills training and cross-border e-commerce support have helped partner nations build trade capacity. These actions have widened the door for developing countries to participate in a fairer, more inclusive global economy.
According to Chengwu, following the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC), China granted zero-tariff treatment to all least developed countries, including Liberia, that maintain diplomatic ties with Beijing. In the fourth quarter of last year, Liberia exported $6.52 million in rubber and related products to China, a more than 29-fold increase year-on-year.
Liberian enterprises have been invited to key events like the Shanghai Import Expo, the China-Africa Economic and Trade Expo in Changsha, and the Canton Fair. These platforms aim to increase global recognition of Liberian brands and open new sales channels.
China is actively aligning its trade initiatives with Liberia’s ARREST Agenda for Inclusive Development (AAID). Chinese investment in Liberia is growing, allowing more Liberian-origin goods to qualify for policy incentives. This not only boosts exports but also drives Liberia’s socioeconomic growth.
China strongly opposes tariff and trade wars. Chengwu stated that “there are no winners in such conflicts.” Protectionism, he stressed, is a dead end. While China does not seek confrontation, it is prepared to respond to U.S. provocations with firm and proportionate countermeasures.
“China is an honest and rightful major country, and a responsible member of the international community. We stand firmly against hegemonism, not only to defend our own rights, but to protect the shared interests of all nations,”
He continued, “We will never sit idly by while the rights of the Chinese people are undermined or while international trade rules are violated. China is willing to work with all parties to safeguard a WTO-centered system and promote fairness and justice.”
As the world’s second-largest economy and second-largest consumer market, China remains committed to high-standard opening up. The Chinese envoy affirmed that China will continue institutional reforms across rules, regulations, management, and standards. “We will foster a world-class, law-based, market-oriented business environment,” he explained.
He welcomed all nations, including Liberia, to ride the “express train” of China’s development and share in the opportunities presented by its vast market.
China is confident that openness and cooperation represent an unstoppable trend.
