China won’t blink first in its fight with the US
Beijing and Washington are entering uncharted territory in their global competition
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
IN AMERICA’s escalating trade war with China, it won’t be Beijing that blinks first. President Xi Jinping can withstand way more economic and political pain than US President Donald Trump.
The response from the world’s second-largest economy to what it has called “blackmail” from Washington has been robust. It has said it will “fight to the end”, and initially hiked retaliatory tariffs to 84 per cent.
That was before Trump upped the ante again by imposing an effective 125 per cent rate on Chinese goods while pausing duties on other countries for 90 days. The White House clarified Thursday (Apr 10) that with a 20 per cent levy put in place earlier this year over China’s role in fentanyl trafficking, the tariff rate is now 145 per cent.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
‘Largest Singapore commercial S-Reit proxy’: analysts say buy CICT shares after Paragon acquisition
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
