The recent proposal of US House Republicans to impose a controversial border tax on imports will not only deal a blow to global trade rules and hurt the interests of the United States' trading partners, but also cost American consumers dearly and diminish Washington's global influence.

Although there are some good intentions behind the bill, such as raising the competitiveness of US products and fostering favorable conditions for the domestic manufacturing industry, it cannot meet the goal without paying a very high price.

The proposed border tax plan has shocked the European Union and other US allies, and could prompt the biggest dispute in the World Trade Organization, because it goes against the basic economic principles and established world trade rules.