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The globalization paradox: Why trade war is self-sabotaging
The Statesman Bhubaneswar
|May 22, 2025
In the heart of Cupertino, Apple engineers are scrambling to redesign the iPhone 17.
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Why? US semiconductor tariffs have ignited a fire under production costs. But here's the kicker: your smartphone is a United Nations of tech, with its brain born in California, its face crafted in the Republic of Korea, and its body assembled in China. This intricate web of international collaboration is the hallmark of globalization, a system that has driven economic growth and innovation for decades.
In April 2025, the US government imposed "reciprocal tariffs" on nearly all trading partners, with rates on Chinese goods soaring up to 145 percent—the highest in a century. Despite optimistic signals from China-US trade talks in Geneva, the damage to global trade may already be irreversible.
This story is from the May 22, 2025 edition of The Statesman Bhubaneswar.
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