German Business Leader Warns of No-Win Situation Under Higher Tariffs
Higher tariffs and trade barriers result in a no-win situation for everyone involved, cautioned Oliver Oehms, executive director and board member of the German Chamber of Commerce in North China. Speaking to CGTN during the China International Supply Chain Expo 2023 in Beijing, Oehms emphasized the importance of open trade for global economic prosperity.
“Higher tariffs are a lose-lose game,” Oehms stated. “They hinder the flow of goods, increase costs for businesses and consumers, and ultimately slow down economic growth.”
The China International Supply Chain Expo 2023, held from Wednesday to Sunday in Beijing, brings together industry leaders from around the world to discuss the future of global supply chains. The event focuses on fostering cooperation and finding solutions to current challenges in international trade.
Oehms highlighted the strong economic ties between China and Germany, noting that collaboration is key to overcoming global economic hurdles. “China and Germany have a longstanding partnership,” he said. “By working together, we can enhance supply chain resilience and promote sustainable growth.”
The German Chamber of Commerce in North China plays a crucial role in facilitating business relations between the two countries. Oehms urged policymakers to consider the broader impact of trade restrictions. “We need to avoid policies that create unnecessary barriers,” he urged. “Our focus should be on building bridges, not walls.”
Attendees at the expo echoed similar sentiments, calling for increased dialogue and cooperation to ensure the stability of global supply chains. With the world economy facing uncertainties, many agree that international collaboration is more important than ever.
