Trump's trade war: Olive branch in China comes across mockery and distrust
Trump's trade war: Olive branch in China comes across mockery and distrust
President Donald Trump pleased global investors with the prospect of a "considerable" reduction in the China tariffs. But his attempt to de -escalate the trade war with the second largest economy in the world was absorbed in China with distrust and ridicule. Online users made fun of the moody guide and described him as someone who "pressed".
Trump speaks of customs cuts
China's reaction to the peace offers
When a spokesman for the Chinese Ministry of Foreign Affairs was asked about Trump's statements on Wednesday, he seemed to dismiss her with a familiar rhetoric: Beijing was ready to talk, but not if it was threatened under pressure or tariffs in the three -digit amount. Wang Yiwei, the director of the Institute for International Affairs at the Renmin University in Beijing, said that the Chinese officials distrust Trump after weeks of tacting and contradictory messages. In addition, Beijing has the feeling that they now have the upper hand.
The situation on the market and Trump's uncertainties
"The pressure in Germany is increasing, and many of his current statements aim to dispel internal concerns," Wang told CNN and referred to a decline on Wall Street and worried about inflation. "He now looks a bit hectic. But China does not believe in his statements about (considerable) tariffs. He says one today and tomorrow the other, it may increase it the next day. He is not trustworthy."
For months, Beijing projected an atmosphere of strength. Last week the Chinese leader XI Jinping traveled through three countries in Southeast Asia to consolidate the position as stable political and economic partners. However, the Chinese economy is no longer the block of power that it once was, and some experts believe that Beijing ultimately has to negotiate.
The background of Trump's U -turn
Trump's possible U-turn in relation to China came a day after he had met privately with the board of four large US individual trading companies-Walmart, Target, Home Depot and Lowe’s-who expressed their concern about the increasing economic effects of its customs policy and the uncertainty that she created for the financial markets.
Many large investment banks have predicted that the massive tariffs and China's 125%retaliation duties on US goods could plunge the US and the global economy into a recession.
direct negotiations between the USA and China
On Wednesday, Trump announced that “every day” there was direct conversations between US and Chinese officials about the trade, although he did not want to give any details.
Although the president did not specify what he means with a significant reduction in tariffs, a high -ranking official of the White House the wall street journal with 50% and 65% “could fall. But Wang from the Renmin University, who is currently traveling in Washington and speaks to American analysts, said that a reduction in tariffs to this level would not be enough to move China to negotiations.
The position of China in the trade war
"If you really want to negotiate with China, you should first pick up all of these unfounded tariffs and then return to the negotiating table," he added, emphasizing that Trump attempts to "tempt" Beijing for talks. "If you call him now and show a sign of the weakness, he will think that his tactics work - and exert even more pressure."
strong reactions in social media
The news that the Trump administration is considering a reduction in tariffs was largely mocked in the Chinese social media, where it was the most discussed topic on Weibo on Thursday morning. "Our page says that we don't care!", Wrote a user in a comment who received more than 1,000 likes. Another said: "If the so -called retaliation tariffs are not even lifted, then no time wastes negotiations!"
This hard position that is often heard reflects China's public reactions. But despite Beijing's official attitude, some Chinese experts doubt the prudence of a lengthy showdown with Washington.
The economic effects of the high tariffs
A foreign political scientist in China, who wanted to remain anonymous, expressed his concern for CNN on the effects of the extremely high tariffs on the paralyzing economy. "The Chinese authorities do not say the truth. We are tormented by the dark economic decline," they said. If the 145% tariffs remain, "our entire foreign trade landscape would significantly impair, which would result in massive job losses. Social unrest could increase and the legitimacy of the government could be endangered," they added.
Similar views that express Chinese experts, including the criticism of Beijing's decision to impose retaliation duties on the United States, are often censored in the Chinese social media.
Economic growth forecast Chinas
At the beginning of April, a researcher of the Chinese Academy of Social Sciences, one of the leading fundamental thinking factories, published in his personal Wechat contribution that China's countermeasures were "completely wrong". "The USA is increasing the tariffs like a stone to fall on the foot - we shouldn't do it and harm ourselves," wrote the researcher in the post, whose screenshot was censored in social media after a certain appeal.
In the past month, Beijing set an ambitious goal of "around 5%" growth for this year, which underlines its confidence in the export -oriented economy. However, economists believe that it will be difficult to achieve this goal.
Analysts believe that exports, which rose by 12.4% in March compared to the previous year, will not be able to maintain this strong swing in the face of the American tariffs. At the beginning of this month, the investment bank Goldman Sachs explained that the US tariffs "will significantly load the Chinese economy".
The expert who spoke anonymously to CNN believes that China will ultimately return to the negotiating table. "The Chinese side represents only one facade," he said. "We have to quickly reverse the trade war with the United States, but it is about protecting the face-pretending to be strong as you are waiting for the United States to give in first. Then you can represent any compromise in the China-US negotiations as a Chinese victory and American failure."
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