Zimbabwe: Tariffs, Trade Wars Benefit No One - Chinese Ambassador (2025)

Chinese Ambassador to Zimbabwe, Zhou Ding, has reaffirmed his nation's commitment to upholding multilateralism and the rules-based international economic and trade system, stressing that China believes tariffs and trade wars benefit no one globally.

Ambassador Ding said this at the research indaba held on the sidelines of the ongoing 65th edition of the Zimbabwe International Trade Fair (ZITF) on Wednesday.

His remarks come in the wake of the slew of reciprocal trade and commodity tariffs US President Donald Trump has imposed against many countries across the world since he took office, which experts and key multilateral institutions, including the International Monetary Fund, have condemned.

The IMF said following the raft of Trump tariffs, including against key global player China, economic policy and trade uncertainty globally were at an all-time high.

The US is the world's largest economy and its policies have serious implications for the global economy and have already sent markets tumbling and increased the risk of a global recession.

Amid confusion and uncertainty over the implications of the global trade tariffs, the Trump administration halted higher tariffs for 90 days for most countries, but retained the steep 145 percent tariff level against its closest competitor, China.

However, President Trump maintained a general 10 percent tariff against all trading partners.

The US imposed an 18 percent tariff against all imports from Zimbabwe, which was due to take effect from April 2, 2025, barring a three-month suspension.

Zimbabwe exported US$67,8 million worth of goods to the US in 2024, according to US trade statistics.

According to one of the world's largest commercial banks, JP Morgan, recessions are already expected in Mexico and Canada, and modest downgrades have been made to growth projections in China, Europe and emerging markets, especially Asia.

Global growth projections have since been revised down from 2,1 percent at the beginning of the year to 1,4 percent in the fourth quarter of 2025.

But China has reaffirmed its unflinching respect for multilateralism and the rules-based global trade and economic system.

"In pursuit of its own development and mutually beneficial cooperation with other countries, China stays committed to upholding multilateralism and the rules-based international economic and trade system.

"China believes that tariffs and trade wars benefit no one. China will continue to take resolute measures to safeguard its legitimate rights and interests as well as the common interests of the international community, in particular the Global South," said Ambassador Ding.

Sharing China's experience in sustainable industrialisation and economic development, a story of transformation that stands as a defining case study, Ambassador Ding said China chose a development model fitting its own reality.

"After a century of foreign invasion and domestic upheaval, we rebuilt our industrial base in the 1950s-60s, launched the transformative reform and opening-up drive in 1978, and we have pursued high-quality development since 2012.

"The Communist Party of China (CPC) has consistently adapted strategies to our evolving national realities, and created a Chinese path to modernisation," said Ambassador Ding.

He said China's journey showed that there was no universal blueprint for development, as success came from finding a model that fits a nation's unique context, while industrialisation required visionary leadership that tailors strategies to local conditions, balancing ambitions with pragmatism.

"At the core of Chinese modernisation is the steadfast leadership of the CPC, which has provided strategic continuity and pragmatic governance to ensure stability amid complexity," said Ambassador Ding.

He said by integrating into global value chains, China attracted investment, technology and talent, transforming the world's second-largest economy into a manufacturing and innovation powerhouse, forming a manufacturing ecosystem unmatched in scale and versatility.

"Today, we take pride in being the only nation with all industrial categories listed in the United Nations industrial classification system," said Ambassador Ding.

Furthermore, Ambassador Ding said China's success was the result of substantial and persistent investments in infrastructure, human capital and technology.

He said China had strategically upgraded traditional industries to be higher-end, smarter, greener and more sustainable, while driving digitised, internet-based, and energy-efficient economic growth.

"In 2024, China's high-tech manufacturing sector grew by 8,9 percent, while energy intensity dropped by over 3 percent.

"From producing 13 million electric vehicles annually to developing DeepSeek, a high-performance, open-source Artificial Intelligence model, China's innovation-driven, eco-friendly growth is both robust and irreversible.

"China's story demonstrates that a developing country can achieve development through strategic planning, active engagement in global trade and investment, and pursuit of innovation-driven growth," said Amb Ding.

He said every nation's journey was unique, with no one-size-fits-all industrialisation model suitable for everybody, adding that as a true friend, China supports Zimbabwe's efforts to forge its own modernisation path that harnesses the country's heritage, resources, and aspirations.