Abstract: Based on the implementation background of the Trump administration's reciprocal tariffs policy, this paper systematically analyzes its structural impact on global industrial chains and the pathway for restructuring China's industrial chains. The reciprocal tariffs policy exacerbates the global industrial chain risks by shaking the foundation of the multilateral trading system, distorting global factor allocation, depriving developing countries of their right to industrial upgrading, forcing the localization of industrial chains, and causing trade welfare losses.
In the face of this change, China needs to accelerate the construction of an independent, secure, and resilient China Chain system. This system manifests concretely in five forms, which are the China Production-US Consumption necessity-based global industrial chain, the vertically integrated global industrial chain of China Headquarters-Non-US Overseas Production Bases-US Market, the China-led Non-US Market-Dependent global industrial chain, the vertically integrated global industrial chain of China Headquarters-US Production-Global Sales, the global industrial chain clusters relying on the domestic unified market. To achieve this, it is necessary to accelerate the construction of a multidimensional and comprehensive policy framework system of preemption-hedging-countermeasures. It involves using self-directed and targeted opening-up to preempt further US attempts to constrain China's development space through technological and trade wars, strengthening the domestic economic cycle to hedge against asymmetric competition from the US and Western economies, and employing a systematic policy framework design to counter the negative effects of reciprocal tariffs on China's industrial chains.
