The trade war is escalating at a particularly sensitive time in the Chinese political calendar.
By Anna Fifield Anna Fifield Beijing bureau chief. Email Bio Follow May 10 at 7:09 AM BEIJING — China is digging in for a new battle in its trade war with the United States, declaring Friday that it has no choice but to “take necessary countermeasures” against increased tariffs on its goods.
The escalation could hardly have come at a worse time for President Xi Jinping and his ruling Communist Party. Nerves are running so high that party organs are constantly being told to “guard against color revolutions,” the observer said, referring to the popular uprisings that toppled leaders in former Soviet states including Georgia and Ukraine. “Everything is related to China’s internal politics,” he said.
“I don’t see a short term resolution in the making,” said Paul Haenle, a former China director on the National Security Council who now runs the Carnegie-Tsinghua Center in Beijing. Chinese stock markets, after suffering big losses earlier in the week, actually gained on Friday. The Shanghai Composite Index rose 3.1 percent and the Shenzhen Component Index gained 4 percent.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
POLITICO Playbook: NEW: What McConnell will say about Mueller on the Senate floorSenate Majority Leader Mitch McConnell will speak on the floor at 10 a.m. to deliver his final thoughts on the Mueller report. Look for him to invoke the phrase “case closed.” More in Playbook:
Read more »
U.S. poised to double tariffs on $200 billion of Chinese imports, escalating U.S.-China trade warU.S. poised to more than double tariffs on $200 billion of Chinese imports, escalating trade war; talks expected to resume Friday
Read more »
Trump doubles tariffs on $200 billion of Chinese imports, escalating U.S.-China trade warThe tariffs took effect at 12:01 a.m. Friday, with trade talks expected to continue.
Read more »
US, China wield threats going into high-stakes trade talksThe talks were thrown into disarray this week after top US trade negotiator Robert Lighthizer and Treasury Secretary Steven Mnuchin accused the Chinese of reneging on commitments they made earlier.
Read more »
U.S. hikes tariffs on Chinese goods, China says to strike backU.S. President Donald Trump's tariff hike on $200 billion of Chinese goods takes effect by davelawder
Read more »
Stocks slide as Trump’s threat of new penalties scares investorsThe stock market is looking at a dark day after President Trump threatened tariffs on China, days before the two sides were scheduled to meet to finalize a deal. Stephanie Ruhle is joined by Risk Reversal Advisors’ Principal Dan Nathan and CNBC’s Dominic Chu for the latest on the markets.
Read more »
Escalation in U.S.-China trade spat is biggest threat to world growth: Le MaireFrench Finance Minister Bruno Le Maire on Friday said that an escalation in the ...
Read more »
Exclusive: Sequoia China to cut up to 20 percent of investment staff as tech growth slows - sourcesSequoia Capital China, widely viewed as a bellwether for Chinese tech investment...
Read more »
US tariffs on China jump as deadline passes, China immediately says it will retaliateThe Trump administration is hiking duties on $200 billion worth of Chinese products to 25% from 10%.
Read more »