Trump’s live updates: China runs out of US tariffs with 84 % tax

On Wednesday, the Trump administration implemented its threat to increase customs duties on Chinese exports by 50 percent unless China cancels its reprisals on American goods last week. The minimum tax on Chinese imports is now amazing 104 percent.

With the first leadership of China, Xi Jinping, and Mr. Trump in the game of chicken-each of them is unwilling to take weakness by making the concession-the commercial battle can go out of control, and inflame tensions on other areas of competition such as technology and the fate of Taiwan, which is the island of self-rule that Beijing claims.

Mr. Trump’s bare tactics make him unique in American policy. But in Mr. Xi, he faces a deduction that survived political cleansing disturbances in the late twentieth century in China, which eventually views the United States ‘competitors’ tactics.

“Trump has never gone to a rear fight where the other side is ready for courage and using the same tactics it overlooks,” said Scott Kennedy, the chief adviser at the Center for Strategic and International Studies, a research center in Washington. “For China, it comes to sovereignty. This is about the grip of the Communist Party over power. For Trump, it may be just a political campaign.”

The Chinese economy, which was already in a weak state due to the property crisis, faces the ghost of the global recession and the devastating slowdown in trade, its specific industry and the main growth engine. In a sign of the increased bi Jing, Chinese censorship It seems to be withheld Searching for social media on the retail marks that referred to the number 104, as is the case with the size of the American definitions.

“This is a great shock to the Chinese economic relationship and the United States, like the earthquake,” said Wu Shinbo, Dean of the Institute of International Studies at the University of Vodan in Shanghai, about the definitions imposed on Wednesday. “It remains to see whether this is temporary turmoil or a long -term trend.”

The separation of the United States of Chinese is still far from becoming a reality. Both Chinese and American companies such as Tiktok and Starbucks are still firmly in countries. Chinese banks remain high for the financial system dominated by the US dollar.

Mr. Kennedy said that China and the United States are still in the abyss, everyone is trying to force the other to make a deal on the knee. But the dispute may become more dangerous if the Trump administration is chasing Chinese financial institutions – for example, by canceling the licenses of Chinese banks in the United States or operating them outside the international payment system.

Upon returning to Mr. Trump’s movements, Beijing threw herself as a victim of unfair and fertile American trade practices. The irony is that China has done the same, if not worse, over the decades by reducing foreign investment and supporting Chinese companies.

Mr. Xi himself did not provide any direct comment on the latest American definitions. On Wednesday afternoon, shortly after their speed, the Chinese government media announced that it had delivered a speech at a meeting with the other six members of the Standing Committee for Political Policy, the Summit of the Authority in China, in addition to senior officials. In this, Mr. Xi called on officials to strengthen relations with China’s neighbors and “enhance industrial cooperation and the supply chain.”

A spokesman for the Chinese Foreign Ministry, Lyn Jian, addressed the new definitions, saying on Wednesday that China “will never accept such arrogant and bullying behavior” and will definitely continue. “

Any fracture between Chinese and American economies will feel all over the world. The work was the basis for the bilateral relationship for nearly five decades. Without this, their participation in other global issues, such as security, climate change, future epidemics and financial crises, may stop.

China tried to reduce the ability to be exposed to the economic chaos launched by the Trump administration. She says she reduced her dependence on the United States markets for its exports and that its economy is increasing self -sufficiency, especially when it comes to developing local technologies.

But those papers about serious problems in the Chinese economy, which were largely stagnant due to the collapse of the real estate market. Moreover, Mr. Trump’s assault on the global trading system, which includes targeting countries such as Vietnam as Chinese companies have opened factories to circumvent the American definitions earlier, and strikes in the heart of one of the only current economic points in China.

Wang Yongyng, director of the International Economy Institute at Beijing University, said that the repercussions of trade disorder will harm the United States, which depends on China for all types of manufactured goods, but will cause more damage to China.

“The influence on China is that Chinese products have no place to go,” said Mr. Wang. This will lead to the cavity of companies directed towards export that make things such as furniture, clothes, games and home appliances along the eastern coast in China, which is largely present to serve American consumers.

“These companies will strike strongly,” said Mr. Wang.

The threat of Chinese exports increases the difficult task of re -investing in foreign investment, which has been calm since the Covid and the introduction of strict national security laws that have made business in China increasingly difficult.

Mr. Xi tried to attract foreign investors, and hosted a group of executives from abroad last month in Beijing. In a speech, he said that the development of China was worthy not only to lead the Communist Party, but to “support and assist the international community, including the contributions made by foreign funded companies in China.”

Evan Mediros, a professor of Asian studies at Georgetown University, who worked as Asia Adviser to President Barack Obama, said that Beijing’s strategy now is to retreat to the United States and hope that Mr. Trump will surrender to local pressure to reflect the reverse path.

“They know that if they surrender to pressure, they will get more pressure,” he said. “They will resist this with the belief that China can stand up to pain more than you can.”

Until then, Chinese leaders seem to wander around the country in a long battle. One sign: influential bloggers have been allowed to confuse the crisis and suggest ways to take revenge on the United States.

One of them, Ren Yi, the Chinese Terminal Trainer at Harvard University, which bears the name of the pen “Chairman of the Board”, included six possible counter measures, including restrictions in China on American services companies such as law firms and consulting companies; Cut American poultry imports and soybeans; And ending cooperation with Washington to reduce the flow of fentanel to the United States.

“Trade War”, he wrote, “It is not just an economic friction but” a war without smoke. “This must be understood from this perspective.”

Vivian Wang It contributed to the reports from Beijing.