'De-Americanization' of trade is on the cards

The United States' weaponization of tariffs not only harms the interests of other countries, but also increases the uncertainty for the US economy, which in turn has a profound impact on global trade and the world economy.

The US' weak consumption growth and shrinking manufacturing activities have lowered market expectations and risk aversion is on the rise.

The tariff policy makes imported goods and related products more expensive in the US, which will directly harm the interests of US consumers and companies. Small and medium-sized enterprises in the country have already found it difficult to cope with rapid changes in the supply chain and on the cost side. They are likely to become the first batch of "dominoes "to fall under this round of tariff shocks. According to data of S&P Global Market Intelligence, the total number of US corporate bankruptcies in the first two months of this year has reached 129, the highest since 2010, and most of the bankrupted companies are small businesses.