A Trump tweet of 5 May brought China-US trade talks to an unexpected end. The US announced increased tariffs 10 May to 25 percent on US$200 bn of Chinese goods, and China responded 13 May with its own tariffs on US$60 bn worth of US imports. The tariff moves, both to kick in later, heightened RMB depreciation pressure, pushing the RMB-USD exchange rate to 6.9 and forcing top financial policymakers to reassure the market they could stabilise the rate. The sharp ratcheting of tensions triggered some deeply felt responses. Though ‘open to negotiation’, China vowed that it would ‘fight to the end’ and ‘not compromise on the national interest’. Conflict extended to multilateral platforms, where China sought support with a
May: US-China, rural-urban, food security
May: US-China, rural-urban, food security
May: US-China, rural-urban, food security
A Trump tweet of 5 May brought China-US trade talks to an unexpected end. The US announced increased tariffs 10 May to 25 percent on US$200 bn of Chinese goods, and China responded 13 May with its own tariffs on US$60 bn worth of US imports. The tariff moves, both to kick in later, heightened RMB depreciation pressure, pushing the RMB-USD exchange rate to 6.9 and forcing top financial policymakers to reassure the market they could stabilise the rate. The sharp ratcheting of tensions triggered some deeply felt responses. Though ‘open to negotiation’, China vowed that it would ‘fight to the end’ and ‘not compromise on the national interest’. Conflict extended to multilateral platforms, where China sought support with a