Could China’s Strategic Pivot to Global South Spell Trouble for US?
Containers are pictured on board of the ‘Star’ vessel of the China Shipping Container Lines shipping company at the harbour in Hamburg, Germany.
Additional tariffs on Chinese goods at 104% will remain in place “until they make a deal with us,” US President Donald Trump said at the NRCC Dinner on Tuesday evening.China could pull off a swift “recalibration” of its overseas trade in response to Donald Trump’s tariff war, Paul Goncharoff, veteran financial analyst and research director at RPA (Russia Pivot to Asia) company, told Sputnik.
Why Washington Should Be Worried
China-BRICS trade is now worth over $1 trillionChina’s trade with Russia reached a record high of $237 billion in 2024, Chinese customs data shows China has been diversifying its export markets, with exports to the ASEAN group of nations surging by 12% last year China’s Belt and Road Initiative was designed to secure multiple supply chains – many of those are now operational and never extended into the US. If China boosts its exports to non-US markets by 8.5% annually, it could offset its entire exposure to American export volume within just two years, Goncharoff explained.
On April 2, Donald Trump signed an executive order imposing reciprocal tariffs on US trade partners, which includes a 34% tariff on China, a 20% tariff on the European Union, and 24% on Japanese imports. After China imposed additional tariffs of 34% on all goods imported from the US, Trump stated he would increase tariffs on Chinese imports by 50%, effective April 9.
“Instead of fixing its own problems, Washington is trying in every way possible to shirk responsibility and shift the blame, resorting to tariffs, up to and including blackmail and ultimatums,” China’s Foreign Minister Wang Yi said, commenting on the US president’s 2.0’s trade wars during a three-day official visit to Russia.WorldWang Yi: China Will Not Accept ‘America First’ Built on ‘American Bullying’1 April, 04:48 GMT