Trump’s tariffs on Chinese fireworks to see US lose its sparkle
Donald Trump’s 145 per cent tariff wall has hurt Liuyang, the world capital of the fireworks industry in China’s central Hunan province – but less than you might think | WATCH
Donald Trump’s 145 per cent tariff wall has hurt Liuyang, the world capital of the fireworks industry in China’s central Hunan province – but less than you might think | WATCH
China has effectively blocked US beef from entering the country, and is instead looking to Australia to fill the vacuum with even the most patriotically American branded restaurants looking increasingly Aussie.
Beijing’s own statistics show the country’s factory output has slumped. Things could get a lot worse in the coming months.
China’s Commerce Ministry has said it’s assessing the possibility of tariff talks with Washington, with crippling levies leading to rising numbers of factory workers being put on indefinite leave.
Days before Anthony Albanese announced an election would be held on May 3, there was a rash of excited commentary on the Chinese internet: was Beijing preparing to seize Australia?
Beijing has never experienced a first 100 days of an American presidency anything like it. Now Xi’s propaganda machine is calling for Chinese people to prepare for a ‘protracted war’ to withstand the economic assault.
Chinese entrepreneur Wang Sen woke up on Monday to a strange development – overnight, he had joined the tiny group of people in China who are having a good trade war. But these rare winners are no fans of the economic turbulence.
The American president looms over this year’s Canton Fair, and its 30,000 exhibitors. But the view from the ‘factory of the world’? China’s manufacturers will prevail.
Beijing says it will diversify from America unless Donald Trump ‘corrects’ his ‘erroneous’ tariffs even as exporters look at siphoning goods through other countries to avoid whopping levies.
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.
Original URL: https://www.theaustralian.com.au/author/will-glasgow