TechFlow news, March 19 — According to Jinshi Data, Robert Zoellick, former President of the World Bank and former U.S. Deputy Secretary of State, recently stated that imposing additional tariffs not only raises business costs but also reduces productivity. Both China and the United States will suffer negative impacts from such policies.
He emphasized that higher tariffs damage healthy economic and trade relations between China and the U.S., while American tariffs on Canada and Mexico have severely disrupted the North American auto industry. "Therefore, I believe these tariff policies are not the right decisions," Zoellick said.
However, he also noted that tariffs are sometimes used as a negotiation tool, and the U.S. may employ them as a means to pressure other countries.
