China has condemned the United States’ recent tariff increases, warning that the move poses a serious threat not just to China, but to the entire global economy—including African countries and small businesses.
Speaking at a press conference in Abuja, the Chinese Ambassador to Nigeria, Yu Dunhai, described the tariffs as “a global trade war” and a backward step that undermines multilateralism and fair international trade.
According to the envoy, the U.S. approach—imposing blanket tariffs under the assumption that trade surpluses equal cheating—violates World Trade Organization (WTO) principles and has already caused significant economic fallout. African economies, he said, are suffering from currency devaluation, stock market volatility, and disruptions to industrialization and poverty reduction efforts.
These global trade disruptions, analysts say, could increase costs for small and medium-sized enterprises (SMEs), limit access to international markets, and create economic uncertainty across the continent.
“No country can remain immune in the face of bullying and coercion,” Yu said. “Appeasement will only invite further aggression. Today, opposing U.S. tariff abuse means upholding multilateralism, fairness, and justice.”
The ambassador criticized the U.S. for violating WTO rules and for destabilizing the global economic order. He stressed that China is open to negotiations but will continue to take firm measures to defend its sovereignty and development interests.
Despite global uncertainties, Yu expressed confidence in China’s economic resilience. He noted that China recorded 5.4% GDP growth in the first quarter and continues to contribute around 30% to global economic growth.
Yu also highlighted opportunities for stronger China-Nigeria cooperation amid the global trade tensions. With bilateral trade valued at approximately $22 billion, he said both countries stand to gain from deeper economic ties.
“Following the agreement to export Nigerian peanuts to China, we remain open to expanding imports of Nigerian goods. The prospects for future cooperation are broad,” he said.
He emphasized that Nigeria, as Africa’s largest economy and a key voice of the Global South, has a crucial role to play in promoting an inclusive global trade system.
“We will work with Nigeria to implement the outcomes of the FOCAC Summit and deepen mutually beneficial collaboration. Together, we will resist protectionism and foster an open, fair international environment,” he concluded.
Discover more from SMALL BUSINESS INSIGHTS
Subscribe to get the latest posts to your email.
