China has managed to hold out longer than expected in the trade battle with the US. They have a lot at stake, after all.
If they give in to US President Donald Trump’s demands it will mean that Chinese companies can no longer wantonly steal other companies’ trade secrets and technology. A long-standing practice that’s formed the foundation of China’s rapid growth.
But with China’s economy slowing, and a wave of foreign companies beginning to relocate to neighbouring Asian nations not targeted by Trump, Chinese President Xi Jinping will have little choice but to return to the bargaining table with some real offers in hand.
Showing his determination to win this trade war, Trump has now threatened to hit China with ‘at least’ another US$300 billion (AU$430 billion) of tariffs. However, he said he thought both China and Mexico wanted to make deals in their trade disputes with the United States.
‘Our talks with China, a lot of interesting things are happening. We’ll see what happens… I could go up another at least $US300 billion ($A430 billion) and I’ll do that at the right time,’ Trump told reporters on Thursday, without specifying which goods could be impacted.
‘But I think China wants to make a deal and I think Mexico wants to make a deal badly,’ said Trump before boarding Air Force One at the Irish airport of Shannon on his way to France for a D-Day commemoration.
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The Australian Tribune with AP