Trumpcession: China Counts Cost of ‘Hao Zi Wei Zhi’ Counsel
Donald Trump (US President), Marco Rubio (US Secretary of State), Wang Yi (China FM), Xi Jinping (China President) (Image credit X.com)
Tariff War: Trump Speeds up ‘China De-coupling’
By Manish Anand
New Delhi, April 9: China is whipping nationalism to assert nonchalance to a 104 per cent tariffs from the US. An automatic counter 54 per cent tariffs from China for the US will also be on cards.
Chinese enthusiasts have set off a meme fest on Tik Tok to laugh at US President Donald Trump. A group of oversized American men and women struggle to stitch women inner wears in one of Tik Tok video.
Besides, China pulled out Roanld Reagen video when he was US President, reasoning why tariffs are bad for businesses. Trump on his social media platform Truth Social said that China is desperate to talk to him “but doesn’t how to do it”.
In Trump’s world, all want to negotiate a deal with him. European Union President Ursula von der Leyen said that the EU is okay with zero mutual tariffs on products with the US.
Lai Ching-tse, Taiwan’s President, went a step ahead to unveils ‘Taiwan Plus one’ strategy. He went live on television to address the people to unveil his plan for zero tariffs with the US. Taiwan needs to protect exports to the US, which account for 26 per cent of the total.
Wall Street Journal in a report said that China shut doors on negotiations with the US after first contact fiasco. US Secretary of the State Marco Rubio had called his Chinese counterpart Wang Yi in the first few weeks of Trump 2.0 Presidency.
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The US State Department dismissed the conversation with one paragraph readout. Beijing put out almost a page. One sentence in the readout grabbed the global headlines.
Wang told Rubio: “Hao zi wei zhi (conduct yourself well).” Lingling Wei wrote in the WSJ that Beijing is now without an access to the core team of Trump. She opined that Wang’s sagely counsel shut the doors for Beijing in Washington. The US sanctio9ned top Hong Kong officials also last week.
Chinese currency Yuan is appreciating amid the global economic turmoil. This is seen as an indication of a backward rush of Chinese exporters’ community. At 104 per cent tariffs, currency manipulation may also not repair broken trade rails between the US and China, opine China observers.
China seeks counterweight with an alliance with Japan and South Korea. But Trump announced a few hours ago that top South Korean top officials will be reaching Washington to negotiate ‘One Stop Shopping (full gamut of bilateral relations)’. Japan is also making all efforts to stay on the side of the US per reports.
While China claims to be decades ahead of others in deep-tech, experts have excessively commented on inelasticity of domestic consumption to help the economy. Exporting overcapacity, China netted a $1 trillion in trade surplus last year. If a large chunk of the surplus goes away, observers note that the ongoing investment in defence will be in jeopardy.
An eastern alliance strain is also now revealing. The Russian crude oil prices went crashing this week. Ukrainian President Volodymyr Zelenskyy accused yesterday that Chinese personnel are fighting alongside Russian soldiers against Ukraine.
China’s hope to counterbalance the US with Europe may face stress. The European leaders feted Zelenskyy when he was humbled by Trump at the Oval Office.
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