“Things like cellphones, personal computers, big discretionary items or major expenditures that people have to buy, those things will be harder to replace Chinese-sourced items. So I would expect to see bigger hits in those items just because it’s hard to rebuild a supply chain to replace those,” Ambassador Kurt Tong, an Asia-focused economics expert, […]
Kurt Tong, former U.S. consul general in Hong Kong and Macau, analyzes the current relationship between the United States and China as trade war intensifies.
“Washington is a seductive city. There is a tendency to amplify and exaggerate its debates and passions, and decide that these absorb the rest of the planet. Most other countries recognise Washington for what it is: capital of a nation with enormous salience. As such, they attempt to understand and adjust to the policy priorities
Key Takeaways Retaliation: China stands unique among Indo-Pacific countries with the highest tariff rate of 145 percent while others have been paused at 10 percent for 90 days. China is also the only country in the region that has chosen to economically retaliate against U.S. tariffs, escalating the tensions into a trade war. Negotiation: Most other Indo-Pacific
Retaliation and Negotiation, Asia Responds to Tariff Implementation Read More »
Success in great-power competition requires rigorous and unsentimental net assessment. Yet the American estimation of China has lurched from one extreme to the other. For decades, Americans registered blistering economic growth, dominance of international trade, and growing geopolitical ambition, and anticipated the day when China might overtake a strategically distracted and politically paralyzed United States;
There’s no denying that US and China are now in a full-blown trade war. Yesterday, the Trump administration tacked on additional tariffs on Chinese imports on top of the “reciprocal tariffs” announced last week against a swathe of US trading partners. Chinese exports to US will now attract a minimum of 104% in tariffs.
Key Takeaways: The Trump Administration has announced that an additional 50 percent tariff will be added on top of the 34 percent tariff on Chinese goods that is set to go into effect at 12:01 AM on April 9. It is now clear that the United States and China have entered a period that
U.S.-China Trade War 2.0: Tumultuous Tit-for-Tat Read More »
“These are choppy waters for Australia. While issues like the cost of living dominate election narratives, the Trump ascendancy is now looming larger over the federal election. Questions abound – what about Australia’s grand geopolitical strategy; and which party leader is best placed to navigate the next few years?”
Trump’s Liberation Day Tariffs: On April 2, U.S. President Donald Trump imposed 10 percent duties on all trading partners, effective April 5, plus higher market-by-market tariffs on many Asian nations, effective April 9, targeting partners that have the largest trade surpluses with the United States. President Trump is calling these tariffs “reciprocal,” although the
Asia Reacts to Trump’s Historic Tariffs Read More »
India faces an increasingly daunting growth challenge in a difficult global environment. Despite the difficulties abroad, including Donald Trump’s looming reciprocal US tariffs on India, it is worth emphasising the role of internationalisation, which brought India its most potent period of growth between 1991 and 2011. In this context, attention should be paid to the
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