Big Take Asia China’s New Game Plan for Dealing With Trump Tariffs
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Feb 11, 2025 Shuli Ren, a Bloomberg Opinion columnist focused on China's economy and politics, dives into China's nuanced response to U.S. tariffs imposed during Trump's administration. The discussion reveals how China has adopted a more strategic and less confrontational approach, drawing parallels with Tai Chi. Ren highlights the long-term economic strategies of China versus the U.S.'s short-term focus and addresses the potential consequences of a renewed trade war. He also examines Xi Jinping's steady demeanor and Beijing's efforts to strengthen alliances amid rising tensions.
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China's Response
- China's muted response includes targeted tariffs on goods like oil and gas.
- They also initiated an antitrust probe into Google, which largely exited China years ago.
China's Economic Vulnerability
- China's COVID-zero policy and property downturn weakened consumer spending.
- This increased China's reliance on exports, making them vulnerable in a trade war.
Faster and More Furious
- Trump's current trade war approach is faster and broader than his 2018 strategy.
- China, having learned from the previous trade war, now responds more carefully.