China says it will retaliate if US tariff hikes go ahead - September 6, 2018

September 06 , 2018

USA Today：China says it will retaliate if US tariff hikes go ahead
USA Today reports: "China's government says it is ready to retaliate if U.S. President Donald Trump goes ahead with a tariff hike on Chinese goods and expressed confidence it can maintain "steady and healthy" economic growth. A Commerce Ministry spokesman said Thursday that "necessary countermeasures" are ready if 25 percent penalties due to be announced as early this week on a $200 billion list of Chinese products take effect. The Chinese measures target $60 billion of American goods. The two governments already have imposed penalty duties on $50 billion of each other's exports in their dispute over U.S. complaints that Beijing steals or pressures companies to hand over technology."
CNBC：China's potential weapons against US tariffs could backfire on its growth — here's why
CNBC reports: "Due to China's massive trade surplus over the U.S., China can't keep up with the magnitude of Trump's levies — Beijing doesn't buy enough American goods on which to impose the equivalent volume of tariffs. China may further devalue the yuan — down 8 percent since May — to help its exports, but too much depreciation could trigger capital flight. So far, Washington has slapped duties on $50 billion worth of Chinese goods, and a fresh $200 billion more could be facing the same fate this month. In turn, China has imposed tariffs on $50 billion of U.S. goods and threatened another $60 billion."
Quartz：A Pacific island nation of 11,000 people is picking a fight with China
Quartz reports: "Nauru, the country that until now was best known as the site of one of Australia's notorious offshore detention centers for asylum seekers, is now in the news for turning a regional gathering into a diplomatic ruckus involving Beijing. The country, with a size of just 21 sq km, is hosting the Pacific Islands Forums (PIF), which ends today (Sept. 6), and includes delegates from 18 nations in the region as well as countries such as Australia, the US, and China."

Calendar

2018-09-05 China’s Xi to send top ally to North Korea anniversary
2018-09-04 Trump’s Fight With Canada Over Nafta Faces New Hurdles
2018-09-03 China's leader Xi looms large over North Korean anniversary
2018-09-02 OK, So China Will Surpass the US Economy. Then What?
2018-08-31 China’s State Media: Trump Tweets Come From an ‘Alternative Universe’
2018-08-30 Trump Says China To Blame For Hurting U.S.-North Korean Relations
2018-08-29 With Ships and Missiles, China Is Ready to Challenge U.S. Navy in Pacific
2018-08-28 China moves to end two-child limit, finishing decades of family planning
2018-08-27 China’s new currency policy is a dovish signal in the trade war, analysts say
2018-08-26 Trump is right. His trade war with China is causing a huge problem with North Korea