Silicon Valley CEO Warns Against Tariffs That Could Harm Global Economy
Silicon Valley entrepreneur Steve Hoffman has warned that imposing tariffs on global goods could be a “big mistake” for both the United States and the international economy. In an interview with CGTN, Hoffman emphasized that additional tariffs might trigger a vicious economic cycle, damaging economies worldwide.
Potential Impact on the Global Economy
Hoffman, the CEO of startup accelerator Founders Space, expressed concerns over incoming U.S. President Donald Trump’s proposed trade policies. He stressed that increasing tariffs could hurt not only the U.S. economy but also disrupt global trade.
“Extra tariffs will not only hurt the U.S. economy but also the global economy,” Hoffman said. “It could lead to a vicious cycle where everyone suffers.”
Advocating for Win-Win Solutions
Highlighting the importance of cooperation, Hoffman urged the United States and China to focus on mutual benefits. “China and the U.S. should concentrate on areas where there are win-win opportunities,” he stated. “There are far more chances for mutual gain between China and the U.S. than there are losses.”
A Message for the Future
Hoffman’s remarks serve as a reminder of how interconnected the world’s economies are today. For young people and future leaders, understanding the implications of trade policies is crucial. As global citizens, fostering positive international relationships can lead to shared prosperity.
Reference(s):
'Big mistake' if Trump levies tariffs, says Silicon Valley exec
cgtn.com
