Former Tokyo Governor Yoichi Masuzoe criticized the U.S. for using tariffs as a coercive tool to enforce its hegemonic position, warning that such actions harm others without yielding benefits for itself.
In an interview with China Central Television (CCTV), Masuzoe emphasized that Washington’s tariff hikes are designed to stifle the growth of other economies, reinforcing its dominance at the expense of global trade stability.
"In terms of the field of artificial intelligence, for example DeepSeek, China is catching up to and even surpassing the U.S. at an astonishing pace. The U.S. feels a strong sense of crisis, fearing that if this continues, China may exceed the U.S. in more areas. The 'weapon' at Trump's disposal is tariffs. I have great confidence in China's development that China will not lose, and Japan will not lose either. As long as we strengthen our own capabilities, we can take the initiative and maintain control," Masuzoe said.
He noted that in 1930, the U.S. government instigated a global tariff war, which ultimately led to the Great Depression and became one of the triggers for World War II.
Following the war, countries around the world embraced free trade, paving the way for global prosperity. However, Masuzoe warned that the U.S. is now repeating past mistakes, an approach that will harm others without yielding any benefits for itself.
"Will the U.S. economy improve by adopting economic protectionism? Absolutely not. In fact, it is the U.S. that is suffering. For example, American farmers will face severe difficulties if they cannot export their agricultural products to China. The current Trump administration has abandoned the responsibility of 'protecting global free trade,' and I refer to this phenomenon as 'America's decline,'" Masuzoe said.
He urged nations to unite in response to U.S. tariff policies and defend free trade, stressing the need to safeguard the stability of the global economic system.
"If this approach [of the tariff war] disrupts the process of achieving shared prosperity through free trade, it will worsen the global economy. This is absolutely something we cannot allow to happen," he said.
US tariffs harm others without benefiting itself: former Tokyo governor
The sixth edition of Shanghai's iconic "5·5 Shopping Festival" kicked off on Thursday, alongside the 2025 International Consumption Season, in a renewed push to boost domestic demand and revitalize consumer spending.
Co-hosted by the Ministry of Commerce, China Media Group (CMG), and the Shanghai Municipal Government, the event promises a vibrant mix of promotional campaigns, themed events, and immersive retail experiences across the city's commercial districts.
Centering on the theme "Quality Consumption, Demand Creation," the festival targets four key consumer sectors: services, big-ticket purchases, inbound spending, and emerging consumption trends. It also highlights new economic frontiers such as the debut economy, the silver economy, the nighttime economy, and the ticket-based economy—aimed at unlocking consumer potential and enhancing Shanghai's commercial vitality through new product launches, senior-friendly services, dynamic nightlife, and spending on cultural activities.
The festival launch ceremony also included the Fourth International Consumption Center City Forum. In a video address, Marwan Ahmed Bin Ghalita, Acting Director General of Dubai Municipality, expressed hopes for deeper cooperation between Shanghai and Dubai as the two metropolises mark the 25th anniversary of their sister-city relationship. He emphasized their shared vision for urban development and prosperity.
Another highlight of the festival was the debut of the "CMG Select: Shanghai Pavilion." Combining celebrity hosts, culture, art, and premium brands, the pavilion leverages CMG's influential media platform to energize consumer activity and support Shanghai's drive to become a world-class consumption center.
The shopping festival will run through the end of June, with over 1,000 companies and thousands of brands set to launch more than 1,000 special events.
The 2025 International Consumption Season is a flagship event under the "Shop in China" campaign. Jointly launched by the Ministry of Commerce and five other government departments, the initiative will mobilize regions across the country to spotlight premium international and domestic goods. It will feature product debuts, first launches, and consumer-friendly measures to help both domestic shoppers and inbound tourists access high-quality global merchandise and enjoy top-tier services.
Shanghai launches major shopping festival to boost consumer spending
