Caixin Global China Watch

Caixin Global China Watch

Share this post

Caixin Global China Watch
Caixin Global China Watch
Interview: Countries Should Unite to Fight Trump’s Tariffs

Interview: Countries Should Unite to Fight Trump’s Tariffs

Targets of U.S. “reciprocal tariffs” should work together to lower levies under a trade framework such as the CPTPP, says Mark Kruger, a 30-year veteran of Canada’s central bank

Caixin Global's avatar
Caixin Global
Apr 15, 2025
∙ Paid
5

Share this post

Caixin Global China Watch
Caixin Global China Watch
Interview: Countries Should Unite to Fight Trump’s Tariffs
2
Share
Mark Kruger. Photo: File photo

Mark Kruger. Photo: File photo

U.S. President Donald Trump’s “reciprocal tariffs” have undermined the international trade system and risk pushing the U.S. economy into recession as early as this year, a veteran Canadian central bank official said.

Trump’s claims — the rationale for the policy is to reduce the U.S. trade deficit, revitalize the country’s manufacturing industry, correct unfair trade practices and increase fiscal revenue — are “internally inconsistent,” Mark Kruger, who worked at the Bank of Canada for 30 years, told Caixin in a Wednesday interview.

Rather than negotiate bilaterally with the U.S. on their own in the hope of getting a better deal for themselves, countries should work together under a plurilateral framework such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, he said, referring to the CPTPP trade pact involving 12 nations, including several in Asia such as Vietnam and Japan, as well as Canada and the U.K.

Keep reading with a 7-day free trial

Subscribe to Caixin Global China Watch to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 CXG
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share