US abuse of tariffs denounced at Munich Security Conference

The US's protectionist tariff policy has been deemed as a major concern at the 61st Munich Security Conference (MSC) which is taking place from February 14 to 16 in Munich, Germany. Leaders and ministers from various countries and regions have spoken out against the arbitrary imposition of tariffs by the Trump administration.

In a keynote speech delivered on the first day of the conference, Chinese Foreign Minister Wang Yi stated that "protectionism offers no way out, and arbitrary tariffs produce no winners."

He went on to emphasize the importance of pursuing cooperation, and called for efforts to support an equal and orderly multipolar world with a universally beneficial and inclusive economic globalization.

In a similar vein, European Commission President Ursula von der Leyen also criticized trade wars and punitive tariffs, stating that they "make no sense." She emphasized that tariffs would fuel inflation and severely impact workers, businesses, and the middle class on both sides of the Atlantic, and also underscored the need to prevent a "global race to the bottom."

Meanwhile, German President Frank-Walter Steinmeier bluntly condemned the Trump administration for disregarding established rules and long-standing partnerships and trust. "The absence of rules must not become the guiding principle of a new world order," he warned in the opening speech.

On the sidelines of the MSC, Chinese Foreign Minister Wang Yi met with his German counterpart Annalena Baerbock. Baerbock reiterated Germany's opposition to tariff and trade wars and affirmed the country's commitment to upholding multilateralism and free trade in cooperation with China.