Your move, President Xi. This may be the key message from Donald Trump’s surprising reversal on massive “day one” tariffs on China.
The reprieve Trump appears to have granted Asia’s biggest economy is one Xi Jinping’s Communist Party surely didn’t see coming. For weeks now, Trump and the gang of anti-China advisers he’s named to his new administration promised immediate 60% tariffs as the centerpiece of a “shock-and-awe” trade war.
Not so fast, it turns out. Taxes on Chinese goods are notably absent from the tsunami of first-week executive orders. When pressed, Trump even lowered his sights. Whereas Canada and Mexico face 25% levies by February 1, China might suffer a mere 10%.
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