Trump's tariffs are uniting China, Europe, Japan, South Korea, & ASEAN against the US
Donald Trump's tariff threats and trade war are uniting much of the world against the United States. China is deepening economic cooperation with Europe, Japan, South Korea, & Southeast Asia (ASEAN).
Donald Trump's tariff threats, trade war, and other aggressive policies are uniting much of the world against the United States.
Meanwhile, China is deepening its cooperation with Europe, Japan, South Korea, and Southeast Asia.
China, Japan, South Korea, and ASEAN pledge to "strengthen regional financial cooperation"
Trump's Treasury Secretary Scott Bessent revealed that the US government has what he called a "grand encirclement" strategy aimed at isolating and weakening China.
Trump hit China with tariffs of 145%, imposing what is essentially a trade embargo.
The Trump administration wanted to pressure Japan, South Korea, Vietnam, and India to follow the US and "approach China as a group", Bessent said, according to Bloomberg.
This strategy is clearly failing.
The finance ministers and central bank governors of China, Japan, South Korea, and members of the Association of Southeast Asian Nations (ASEAN) met in Italy on May 4 and published a joint statement pledging "to further strengthen regional financial cooperation".
Although they did not mention the United States and its tariffs by name, they criticized the "escalating trade protectionism", noting how it is "leading to economic fragmentation, affecting trade, investment, and capital flows across the region".
Japanese officials have been angered by Trump's tariff threats, and have pushed back against the US in trade negotiations.
A Japanese lawmaker even condemned Trump as a "delinquent kid extorting somebody".
China and Vietnam have deepened their relations, despite Washington's attempts to divide them.
China is the top trading partner of Japan, South Korea, and ASEAN.
China is the number one trading partner of more than 120 countries, which represent the majority of nations on Earth.
China, Japan, and South Korea bolster economic ties
This followed a similar meeting on March 30 between the trade ministers of China, Japan, and South Korea, which Reuters noted was "their first economic dialogue in five years".
The three major East Asian countries agreed to increase their cooperation and move toward signing a trade deal, while strengthening the Regional Comprehensive Economic Partnership (RCEP), a trade bloc in the Asia-Pacific region, which excludes the United States.
This previous meeting was held mere days before what Trump dubbed "Liberation Day", on April 2, when the US president announced that he would impose high tariffs on countries around the world.
China and Europe improve relations
Trump's tariff threats have similarly pushed China and Europe closer together, at least economically.
On May 6, Beijing announced that China and the European Parliament had agreed to lift restrictions on mutual exchanges between the legislative bodies of the two sides.
The South China Morning Post likewise reported that "leaders of China and the European Union agreed ... to deepen cooperation in the face of challenges posed by US President Donald Trump, in letters exchanged to mark the 50th anniversary of diplomatic ties".
China's President Xi Jinping wrote that "a healthy and stable China-EU relationship will not only achieve mutual success, but also illuminate the world", calling to "adhere to multilateralism, defend fairness and justice, oppose unilateral bullying, work together to meet global challenges, and jointly promote an equal and orderly world".
European officials told Beijing that the EU “remains committed to deepening our partnership with China”, in a "balanced relationship, built on fairness and reciprocity".
China-US trade talks are only preliminary
Beijing did announce on May 7 that it is willing to participate in talks with the Trump administration.
However, journalist Fred Gao noted that the word used by Chinese officials was “talks” (会谈), not “negotiations” (谈判).
"This subtle but significant distinction suggests these were just preliminary discussions, and the real negotiation is yet to start", Gao explained.
Trump, meanwhile, has refused to budge on his sky-high tariffs of 145% on China.
When asked at a press conference if he would soften some of his extreme policies to facilitate talks with China, Trump replied with one word: "No".
One wonders if tRump is acquainted with any real economists.
Good. Another blow to the USA Hegemony.