On April 2, United States President Donald Trump announced wide-ranging tariffs on the rest of the world. It immediately created a storm in the international economy. Stock markets began to take a steep dive, and the bond markets also began to fall. So strong was the reaction that Trump had to step down from his high horse. He announced that he was dropping his so-called reciprocal tariffs on imports for most of the US' trading partners to 10 percent for 90 days to allow for negotiations.

However, he did not do the same for China. The White House claimed some imports from China faced up to 245 percent tariffs after China reacted by putting additional 125 percent tariffs on imports of US goods.

This move by the US administration was motivated by the internal socioeconomic situation in the US itself on the one hand and on the other it is being used as a tool for that country to achieve some of its geopolitical objectives.

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Internally, the US administration is committed to reducing taxes for the forces most responsible for Trump's electoral success, the super-rich in the US. It is apposite to note that at Trump's inauguration on Jan 20 some of the richest persons in the world were special invitees, including Jeff Bezos and Mark Zuckerberg, among others.

The richest man in the US and probably the world, Elon Musk now has a direct role in the administration and seems to have the ear of the US president.

The tariffs are one of the means that Trump is using to transfer more wealth to the already rich from US workers and farmers. It is the working people that are the main victims of this rip-off.

The other reason for the tariffs is Trump's recognition that internationally the US is losing its status as the world's leading economy. His administration exemplifies the fear in Washington that the US is losing its influence and dominance over not just the poorer countries in the world but even its closest allies.

Acting on this fear it is ready to use all its power to force the transfer of wealth from the rest of the world to the United States.

It is already well documented that it has been involved in the regime change in countries where the governments have not subjugated themselves completely to US diktats. And when that is not enough it is always ready to use military force.

Nowadays it's not even trying to hide its intentions as we see how openly the US government is brazenly speaking of taking over Greenland and recolonizing Panama. It has even gone to the absurd level of disclosing its desire to make Canada the 51st state of the US.

That is why it is not decreasing its military spending, but instead continues to increase it. This is despite the fact that its military spending is more than the next 10 countries combined. The huge trillion-dollar military budget is not being reduced even though the US debt is almost 1.5 times its GDP.

In the US strategy, its military has a huge role to play in maintaining its status as the number one power in the world. It has at least 128 known overseas military bases in 49 countries.

These are a huge expense and it is now using all its power to redirect investments from the rest of the world to the US. This is being done at the expense of even its close allies such as the European Union, the United Kingdom, Canada and Mexico.

However, its biggest fear is China. Not because China is threatening the US militarily but because China's influence and prestige is growing throughout the world.

What is striking is that China is on the rise not because it has a policy to out-do the United States, but because its philosophy is totally different from that of the US. It believes in having mutually beneficial relations with all the countries in the world. It rejected hegemonism a long time ago and genuinely works to ensure that its investments abroad and its relations are win-win.

China views development and peace as two sides of the same coin. Socioeconomic progress in a country contributes greatly toward lessening tensions within and between countries. That is why most of its investments are designed to promote sustainable growth in countries which it engages with.

It has never used its considerable power to threaten and bully its partners. It has always respected countries' rights to decide what is best for them.

That approach has brought China tremendous respect throughout the world. It is for this reason that China is the number one trading partner of most countries.

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Even though the US has recognized that Taiwan is an integral part of China, some US politicians continue to encourage some forces in Taiwan to break away from the mainland. In that project they have been arming Taiwan with very sophisticated weapons and been trying to trigger a conflict.

These are dangerous and very irresponsible acts by the US.

It is clear that the US will benefit much more if it changes its attitude toward China.

Its zero-sum game approach is damaging the socioeconomic progress of the whole world. It is a dead end.

The US could be great again if it practices more genuine cooperation with the world as a whole, but most importantly with China.

There is no other viable way because China cannot be bullied.

The author is former president of Guyana.

The views don't necessarily reflect those of China Daily.