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The imposition of US tariffs on goods from China, Canada and Mexico is a painful but inevitable process. This opinion in an interview with Russia 24 was expressed by the Dean of the Faculty of International Economic Relations of the Financial University under the Government of the Russian Federation Pavel Seleznev.

Economist Seleznev called the US tariff wars an inevitable process

10.03.2025

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📝 Summary

The expert called the trade wars an attempt to purposefully break the existing supply chains of products in the United States. “This process is inevitable. As for [US President Donald] Trump, he simply understands that in order to make the United States economy great again, what he declared his campaign slogan. To do this, it needs to capture the markets of Southeast Asia, on the one hand. On the other hand, it is necessary to protect the economy of the United States from cheap Chinese goods that have actually flooded American markets, Seleznev said. The expert believes that the American leader Donald Trump is trying to shift the focus in the economy to the development of their own enterprises, and for this he needs to stimulate local industry and support the national manufacturer. However, in the short term, the introduction of import duties by the United States on goods from China, Canada and Mexico will lead to an increase in the cost of goods and inflation in all these countries, said Pavel Seleznev.