Recently, the frequent adjustments to U.S. trade policies have triggered profound changes in the global trade landscape. In particular, with Trump's return to power and the resurgence of his "America First" trade philosophy, significant shocks have been dealt to the global trade situation.

Continued Tightening of Trade Policies Toward China

The scope of tariffs imposed by the U.S. on Chinese products continues to expand, with increasing intensity. Since August 1, 2024, the U.S. has significantly raised tariffs on Chinese imports, including electric vehicles and photovoltaic products. In 2025, the Trump administration plans to further increase tariffs, with expected tariff rates rising to 20-40%. These measures have severely impacted Sino-U.S. trade relations. In 2023, the total volume of Sino-U.S. goods trade decreased by 11.6%, marking the largest decline since the establishment of formal diplomatic relations between the two countries. Despite the U.S. claim of "de-risking," its essence remains to contain and suppress China. The scale of bilateral Sino-U.S. trade is unlikely to maintain its previous levels, and the future will face systemic restructuring.

Global Trade Landscape Facing Reshaping

The U.S.'s protectionist trade policies are not only affecting Sino-U.S. trade but also causing a chain reaction in the global trade landscape. The U.S. has imposed tariffs on neighboring countries such as Canada and Mexico, as well as its allies, in an attempt to restructure the North American and global trade order. Such unilateral actions have sparked discontent and retaliatory measures from other countries, intensifying global trade frictions. The United Nations Conference on Trade and Development (UNCTAD) has pointed out that the risks of expanding trade frictions and ongoing geopolitical challenges have cast a shadow over the global trade outlook for 2025.

Challenges and Opportunities for Foreign Trade Enterprises

The uncertainty of U.S. trade policies has posed significant challenges to global foreign trade enterprises. On one hand, increased tariffs have led to rising costs for businesses, compressing profit margins. Particularly for manufacturing enterprises that rely on the U.S. market, issues such as reduced orders and inventory accumulation are becoming increasingly prominent. On the other hand, this has also prompted companies to accelerate transformation and upgrading, optimize supply chain layouts, and seek new market opportunities. For example, some companies have expanded into emerging markets in Southeast Asia and Latin America to reduce their dependence on the U.S. market.

Global Economic Recovery Hindered

The adjustments to U.S. trade policies have also had a negative impact on the global economic recovery. Trade protectionism has led to disruptions in the global industrial chain and supply chain blockages, increasing the costs of international trade. The World Trade Organization (WTO) expects global merchandise trade volume to grow by 2.7% in 2024, but the global trade outlook for 2025 remains uncertain. The U.S. trade policies not only affect its own economic growth but also pose a threat to the economic recovery of other countries, especially those developing countries that rely heavily on exports.

Response Strategies and Outlook

In the face of the challenges posed by U.S. trade policies, countries have taken various measures to respond. China emphasizes expanding high-level opening up to the outside world, promoting trade diversification, and strengthening economic cooperation with other countries and regions. At the same time, companies also need to enhance their competitiveness by innovating technology, upgrading products, and reducing dependence on a single market to enhance their ability to withstand risks in the global market. While the adjustments to U.S. trade policies have brought many challenges to global trade, they have also prompted countries to re-examine their trade strategies and economic structures. Against the backdrop of globalization, countries should strengthen cooperation to jointly address the impact of trade protectionism and promote the stability and sustainable development of the global economy.