Trump’s trade war olive branch met with derision and mistrust inside China
CNN
US President Donald Trump has delighted American consumers and global investors with the possibility of a volte-face on China tariffs. But his surprise offer to de-escalate a simmering trade war has been greeted with suspicion and ridicule inside China, with Chinese online users deriding the mercurial leader as having “chickened out.”
US President Donald Trump has delighted global investors with the possibility of a “substantial” reduction of China tariffs. But his signal to de-escalate America’s trade war with the world’s second-biggest economy has been greeted with suspicion and ridicule inside China, with online users deriding the mercurial leader as having “chickened out.” On Tuesday, Trump told reporters at the Oval Office the astronomical tariffs on Chinese goods will “come down substantially.” He even promised to eschew hardball tactics, vowing to be “very nice” at the negotiating table and pledged not to mention the origins of the Covid-19 pandemic. But those peace overtures have failed to elicit a positive response from Beijing. At least, not publicly. Asked about Trump’s comments on Wednesday, a spokesperson for China’s Foreign Ministry appeared to shrug them off by citing a familiar official refrain: Beijing is willing to talk, but not when it’s being pressured or threatened by triple-digit tariffs. Wang Yiwei, director of the Institute of International Affairs at Renmin University in Beijing, explained that, after weeks of posturing and contradictory messages, Chinese officials mistrust Trump. Moreover, he says, Beijing feels it now has the upper hand. “The pressure at home is mounting, and much of his current messaging is aimed at appeasing domestic concerns,” he told CNN, pointing to a slump on Wall Street and concerns about inflation. “He’s getting a bit flustered now. But China doesn’t buy into his talk about (substantially lowering) tariffs. He says one thing today and another tomorrow, maybe increasing them again the next day. He’s not trustworthy.”
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