BEIJING, December 6. /TASS/. The United States is losing the trust of its allies and the international community over its attempts to exploit the Ukraine crisis to gain competitive advantages, the China-based Global Times newspaper reported on Tuesday.
"In the Russia-Ukraine conflict, Washington urges Europe to suppress Russia constantly and, on the other hand, launches a vicious competition to worsen the European economy. As a result, US' credibility with its allies and the international community continues to collapse, and so does its hegemony that disguises itself as a ‘rules-based international order,’" the paper said.
As the paper emphasized, "a true international order should put the UN Charter at its core and pursue the goal of building a human community with a shared future, rather than the one based on Washington's long-arm jurisdiction."
The American business news agency Bloomberg reported in late October that trade relations between the United States and the European Union were in a state of crisis over the US Inflation Reduction Act, which European leaders believe may spark a new Trans-Atlantic trade war.
As the agency recalled, at a meeting with European Commission President Ursula von der Leyen just 12 months ago US President Joe Biden announced the commencement of a new area in trade relations with Europe. Biden lifted $21.5 billion in trade barriers imposed by former US President Donald Trump and launched talks on suspending tariffs on EU exports of steel and aluminum to the United States.
Now Washington’s allies in the EU are talking about America’s dishonest industrial policy, pointing to the US Inflation Reduction Act, which implies lower taxes and energy-related benefits for businesses that will open on US soil and generally prompts households to buy American goods (under the Buy American plan), it said.