Recently, Brunei’s newspaper Borneo Bulletin, United Daily, Sin Chew Daily and See Hua Daily published the article entitled Upholding Openness and Cooperation for a Shared Prosperous Future by H.E. Xiao Jianguo, Ambassador of the People’s Republic of China to Brunei Darussalam. The full text is as follows:

In recent days, tariffs have been imposed with negotiations urged for so-called “reciprocal tariffs”. Such a move affects the rights and interests of many nations, undermining the rules-based multilateral trading system, and bringing even greater uncertainties to the world.

High tariffs heighten risks of supply chain disruptions and cast a dark shadow over global economic prospects. Tariff barriers may also hinder the development of countries around the world, especially Global South countries. An analysis of World Trade Organization(WTO) data shows that tariff hikes will bring contraction of one per cent in global merchandise trade volumes this year, further widen the gap among countries, and make less developed countries suffer heavier blows, hurting the effort for realizing the UN 2030 Agenda for Sustainable Development.

Tariffs could risk reigniting inflation, increasing corporate operating costs, and hampering economic growth and job creation. Recently, thousands, including Nobel laureates and dozens of prominent economists expressed concerns in an open letter that the tariffs are motivated by a mistaken understanding of the economic conditions faced by the ordinary people, which could trigger a self-inflicted recession.

Another fact overlooked is that goods trade deficits can coexist with services trade surplus at the same time, which doesn’t mean it is “getting ripped off”.

Despite tariffs reaching up to 245 per cent on certain Chinese exports under various pretexts, the effectiveness of such measures remains questionable. Since 2018, when trade tensions escalated, China has maintained steady economic development while gradually diversifying its trade relationships. China has also been “walking on two legs” by promoting the development of both domestic and international trade, cultivating and expanding domestic market, and promoting integrated advancements in technological and industrial innovation. The vast potential of China’s domestic market and service consumption continues to be unleashed. In 2024, China contributed approximately 30 per cent to global growth, with first-quarter GDP expanding by 5.4 per cent year-on-year, signaling robust momentum and cementing its role as a key engine of the world economy. Recently, the 137th China Import and Export Fair (Canton Fair) opened its door, attracting a record-breaking number of over 30,000 exhibitors and bearing witness to the vitality and resilience of global free trade.

No matter how the international situation changes, China’s position towards the tariff war is consistent and clear: We will fight, if fight we must. Our doors are open. Dialogues and negotiations must be based on equality, respect and mutual benefit. China is committed to opening ever wider to the world by continuously advancing high-standard opening-up, implementing policies of high-level trade and investment liberalization and facilitation, fostering a first-class market-oriented, law-based, and internationalized business environment. We stand ready to join hands with all countries on the path of mutually beneficial cooperation and shared prosperity. President Xi Jinping pointed out during his recent visit to neighbouring countries that China stands ready to work with regional countries to reject decoupling, supply disruption, “small yard, high fence” and tariff abuse with openness, inclusiveness, solidarity and cooperation, counter the law of the jungle where the strong prey on the weak with the Asian values of peace, cooperation, openness and inclusiveness, and address instability and uncertainty in the world with the stability and certainty of Asia.