For Japan, Trump’s Policy Is Not Economics—It’s Strategy
Trump’s Trade Policy Is Not Protectionism—For Japan, It’s National Security
July 28, 2018｜A summarized and restructured version of the essay by Hideo Tamura—one of Japan’s foremost economic commentators, alongside Yoichi Takahashi—published in Monthly Hanada.
On July 6, 2018, the United States and China officially launched a trade war, imposing mutual tariffs on each other’s imports. What was truly surprising was the overwhelming number of Japanese media outlets and commentators siding with China—or rather, criticizing President Donald Trump and implicitly defending the Chinese regime.
The Myth of “Free Trade” in the Japanese Media
Japan’s mainstream media still cling to a textbook version of “free trade” as a sacred doctrine. For example, the Nikkei Shimbun’s July 7 editorial criticized China’s intellectual property theft but concluded that both sides should “withdraw sanctions and resolve their friction through dialogue.” It was a classic false equivalence: portraying both the U.S. and China as equally responsible for the conflict.
Likewise, the Asahi Shimbun’s July 4 editorial lumped U.S. tariffs on Chinese goods together with steel and aluminum restrictions and scolded the Trump administration for its “protectionism.” NHK’s panel discussions echoed this same line, with experts expressing concern about America’s supposed turn toward economic nationalism.
In contrast, even mainstream media in Europe and the U.S., while often critical of Trump overall, do not call his China policy “protectionist.” Instead, they view it as “reciprocity” or “fair trade”—still within the broader framework of free trade.
China’s Growth Engine: The U.S. Trade Surplus
What these media miss is the most critical point: China’s rise has been funded by its massive trade surplus with the U.S.
Over the past decade, China has accumulated a total surplus of $3.2 trillion from the U.S. These dollars were converted into foreign reserves, enabling China to issue renminbi and expand its financial base. This, in turn, funded the country’s military buildup, its global Belt and Road initiative, and high-tech acquisitions, often via cybertheft or forced technology transfers.
Armed with this financial power, China has militarized reefs in the South China Sea, eyes the Senkaku Islands, and pressures neighboring nations through debt-trap diplomacy. China’s ambitions are not merely economic—they are geopolitical.
Now, the Trump administration plans to impose tariffs on a total of $550 billion worth of Chinese imports—exceeding China’s annual exports to the U.S. If implemented, this would upend China’s trade-driven growth model. With a current account surplus of only $120 billion, the loss of the U.S. surplus could turn China into a deficit nation, choking its financial and military expansion.
For Japan, Trump’s Policy Is Not Economics—It’s Strategy
Trump’s motivations may stem from “America First,” but for Japan, his policies serve a strategic purpose: to curb China’s destabilizing rise. While American tariffs may appear aggressive, they are a calculated attempt to pressure Beijing into fairer trade and international behavior.
Yet, Japan’s media continue to chant “U.S. protectionism,” blinding the public to the real threat. One wonders what kind of satisfaction Xi Jinping feels as he watches these misinformed narratives unfold in Japanese newsrooms.
In reality, Japan should view the U.S. crackdown on China not as economic disruption, but as a critical opportunity to reinforce its national security and regional stability.