Driving commercial and political engagement between Asia, the Middle East and Europe
Driving commercial and political engagement between Asia, the Middle East and Europe
Driving commercial and political engagement between Asia, the Middle East and Europe
US President Donald Trump has said “it’s time to take a stand on China” as his aggressive policies continue to raise the stakes in the US-China trade war.
The President told Fox News that China “is hurting us” and that Washington “has no choice” but to pursue aggressive measures.
He added that the US could impose duties on a further US$267 billion worth of Chinese goods, which would hit nearly all other consumer products including mobile phones, shoes and clothes, South China Morning Post reports.
China, meanwhile, is “currently working on targeted measures” to support Chinese and foreign enterprises weather the trade war storm, Ministry of Commerce spokesperson said Gao Fend said on Thursday.
He added that “foreign enterprises are likely to account for almost half of the affected enterprises.”
State media outlet Xinhua carried a telling line on Thursday, when citing Feng’s response to “questions that some exporters have shifted focus into the domestic market.” Xinhua reports Feng as saying that “some foreign trade enterprises, including foreign-funded enterprises, had explored the domestic market in China due to its size and high consumption potential.”
This could reflect attempts to downplay the impact of US aggression, especially as signs are emerging of tangible strain on the Chinese economy. South China Morning Post reports today that China’s “once-booming small and medium sized businesses” are cutting jobs or moving them out of China as the trade war intensifies.
