Afterword | Easy choice: Fair trade or American hegemony?

History has its eyes on the present. Despite widespread opposition, including a petition signed by more than 1,000 economists urging him to veto it, the U.S. Former President Herbert Hoover signed the Smoot-Hawley Tariff Act into law on June 17, 1930, which is now widely blamed for worsening the severity of the Great Depression in the U.S. and around the world. Grievances developed almost immediately and more than 20 counties retaliated by increasing their own tariffs.

A similar situation is taking place with the reciprocal tariffs announced by the U.S. President Donald Trump against around 90 countries, and countries are responding to widespread criticism. China, the European Union and Canada have already responded to Trump's tariffs with additional import taxes on U.S. products.

According to a statement on the Chinese government's position, the vast majority of countries that value fairness and justice will stand on the right side of history, making decisions that serve their own interests. The world must embrace equity, not hegemony. (Text/Ma Ziqian, Picture/Chen Yulong)