China has hiked tariffs on America to 125 per cent but declared it would not lift them further, ending Beijing’s tit-for-tat response with Washington even as the world’s two biggest economies look for fresh ways to harm each other.
China’s leader has a historical obsession so chilling that, as with the US President’s most shocking statements, many hope it is not meant to be taken literally.
Beijing has slashed the number of Hollywood films it will allow to screen and Washington hiked tariffs on parcels carrying goods from Chinese retailers, as Xi and Trump continue their bruising trade war.
Anthony Albanese and Peter Dutton are promising big business they will rebuff any push for nations to take a tougher economic approach to Beijing.
Beijing is preparing a stimulus package and further retaliation after Donald Trump’s new 125 per cent tariff on Chinese imports went into effect, as Xi Jinping shows no sign of accepting the American president’s offer to ‘do a deal’.
Xi Jinping and his council of yes-men have made a series of epic blunders over the past six days – and they look poised to make China’s disaster even worse.
Donald Trump has reduced levies for US trading partners to a ‘baseline’ rate of 10 per cent, but slapped even higher levies on China.
You would have to have drunk a lot of the dear leader’s Kool-Aid, or rather Moutai, to think this is a moment China should be celebrating. And yet that’s what many are doing right now.
After China said it would ‘fight to the end’ over threats of 115 per cent on Chinese goods, the White House said if Xi Jinping made contact, the President would be ‘incredibly generous.’
Beijing has warned Australia not to discriminate against the country’s businesses amid a push by both sides of politics to strip Chinese-owned company Landbridge of its lease over the Port of Darwin.
Original URL: https://www.theaustralian.com.au/author/will-glasgow