China will survive Trump’s trade war – it’s done it before
China has responded strongly to recent tariffs imposed by the United States, implementing a series of countermeasures that signal a shift in its approach to trade disputes. These measures include tariffs on US goods like coal, natural gas, crude oil, agricultural machinery, and pickup trucks, as well as export controls on rare earth elements. Additionally, Chinese authorities have placed companies like PVH Group and Illumina on an "unreliable entity list" and initiated an antitrust investigation into Google.
This assertive response reflects China's growing confidence and resilience after nearly eight years of trade conflict with the US. While Canada and Mexico negotiated a temporary suspension of US tariffs, China has opted for tougher and more diversified countermeasures. Despite tariffs on Chinese exports to the US averaging around 19% since 2018, the Chinese public has become accustomed to trade disputes, and the additional 10% tariff imposed by the US is unlikely to have a significant impact. Furthermore, the initial objectives set by the US in 2018 have largely been unmet, with the US continuing to record a substantial trade deficit with China.
via SCMP Full Text Feed
China has responded strongly to recent tariffs imposed by the United States, implementing a series of countermeasures that signal a shift in its approach to trade disputes. These measures include tariffs on US goods like coal, natural gas, crude oil, agricultural machinery, and pickup trucks, as well as export controls on rare earth elements. Additionally, Chinese authorities have placed companies like PVH Group and Illumina on an "unreliable entity list" and initiated an antitrust investigation into Google.
This assertive response reflects China's growing confidence and resilience after nearly eight years of trade conflict with the US. While Canada and Mexico negotiated a temporary suspension of US tariffs, China has opted for tougher and more diversified countermeasures. Despite tariffs on Chinese exports to the US averaging around 19% since 2018, the Chinese public has become accustomed to trade disputes, and the additional 10% tariff imposed by the US is unlikely to have a significant impact. Furthermore, the initial objectives set by the US in 2018 have largely been unmet, with the US continuing to record a substantial trade deficit with China.
via SCMP Full Text Feed
