Global trade imbalances, particularly between the US deficit and China's surplus, are rooted in complex macroeconomic factors, not solely bilateral issues. Tariffs prove ineffective, only diverting trade without addressing the core problems like the US's substantial fiscal deficits and China's weak domestic demand. The author strongly advocates for mutually coordinated policy adjustments: the US must increase national saving, and China needs to bolster domestic consumption. The IMF should revive multilateral consultations among key economies to align fiscal policies, saving, investment, and exchange rates for global stability, preventing adjustment through protectionism or market forces.