The Japan Times - Trump tariffs torch chances of meeting with China's Xi

EUR -
AED 4.176518
AFN 80.863189
ALL 98.800597
AMD 441.94576
ANG 2.049361
AOA 1043.277529
ARS 1328.965009
AUD 1.776019
AWG 2.046757
AZN 1.933202
BAM 1.956888
BBD 2.294095
BDT 138.046766
BGN 1.956016
BHD 0.428597
BIF 3378.92639
BMD 1.137087
BND 1.493419
BOB 7.851366
BRL 6.476165
BSD 1.136192
BTN 96.991936
BWP 15.661365
BYN 3.718237
BYR 22286.911436
BZD 2.282289
CAD 1.576924
CDF 3271.399866
CHF 0.942054
CLF 0.027728
CLP 1064.02901
CNY 8.286753
CNH 8.296138
COP 4798.394774
CRC 575.107165
CUC 1.137087
CUP 30.132814
CVE 110.326351
CZK 24.93522
DJF 202.325393
DKK 7.465399
DOP 67.205895
DZD 150.537983
EGP 57.918451
ERN 17.05631
ETB 151.634788
FJD 2.56629
FKP 0.854011
GBP 0.854095
GEL 3.115603
GGP 0.854011
GHS 16.702288
GIP 0.854011
GMD 81.870541
GNF 9840.255679
GTQ 8.750866
GYD 237.712188
HKD 8.821063
HNL 29.455732
HRK 7.532031
HTG 148.352712
HUF 405.231733
IDR 19164.753932
ILS 4.1191
IMP 0.854011
INR 96.84442
IQD 1488.427694
IRR 47871.375438
ISK 145.297219
JEP 0.854011
JMD 179.81604
JOD 0.806311
JPY 163.290254
KES 146.968287
KGS 99.438015
KHR 4548.189196
KMF 491.793727
KPW 1023.378572
KRW 1637.744996
KWD 0.348733
KYD 0.946827
KZT 585.065347
LAK 24576.666736
LBP 101801.629308
LKR 340.479336
LRD 227.246368
LSL 21.442424
LTL 3.357524
LVL 0.687813
LYD 6.217239
MAD 10.539961
MDL 19.610215
MGA 5060.702921
MKD 61.501327
MMK 2387.470564
MNT 4062.786523
MOP 9.078048
MRU 45.19814
MUR 51.430761
MVR 17.522396
MWK 1970.152258
MXN 22.199699
MYR 4.969062
MZN 72.773701
NAD 21.442424
NGN 1831.085972
NIO 41.810309
NOK 11.852054
NPR 155.183884
NZD 1.906282
OMR 0.437787
PAB 1.136232
PEN 4.173321
PGK 4.636476
PHP 64.0578
PKR 319.718032
PLN 4.273416
PYG 9088.734397
QAR 4.141403
RON 4.97715
RSD 117.315237
RUB 93.851842
RWF 1609.759772
SAR 4.265646
SBD 9.499582
SCR 16.166033
SDG 682.823894
SEK 11.013561
SGD 1.493752
SHP 0.893572
SLE 25.808497
SLL 23844.134054
SOS 649.346816
SRD 41.93698
STD 23535.411716
SVC 9.941528
SYP 14784.244175
SZL 21.42197
THB 38.199884
TJS 12.021185
TMT 3.991176
TND 3.403993
TOP 2.663173
TRY 43.698942
TTD 7.718292
TWD 36.947381
TZS 3050.236793
UAH 47.51848
UGX 4165.316273
USD 1.137087
UYU 47.436379
UZS 14688.167882
VES 94.732928
VND 29547.213962
VUV 137.112047
WST 3.142885
XAF 656.307534
XAG 0.034574
XAU 0.000345
XCD 3.073035
XDR 0.816236
XOF 656.298871
XPF 119.331742
YER 278.697739
ZAR 21.23448
ZMK 10235.150613
ZMW 31.727527
ZWL 366.141653
  • VOD

    0.0400

    9.35

    +0.43%

  • SCS

    -0.0600

    9.89

    -0.61%

  • NGG

    -0.2200

    72.04

    -0.31%

  • BCC

    -0.5800

    95.51

    -0.61%

  • AZN

    0.0200

    69.57

    +0.03%

  • GSK

    -0.0700

    37.43

    -0.19%

  • RYCEF

    0.0100

    10.16

    +0.1%

  • RBGPF

    60.8800

    60.88

    +100%

  • RIO

    -1.1300

    60.56

    -1.87%

  • JRI

    0.1400

    12.74

    +1.1%

  • CMSC

    0.0000

    22.33

    -0%

  • BCE

    -0.3600

    21.65

    -1.66%

  • CMSD

    0.0100

    22.46

    +0.04%

  • RELX

    0.3800

    53.55

    +0.71%

  • BTI

    -0.4000

    42.05

    -0.95%

  • BP

    0.1900

    29.19

    +0.65%

Trump tariffs torch chances of meeting with China's Xi
Trump tariffs torch chances of meeting with China's Xi / Photo: Brendan Smialowski - AFP/File

Trump tariffs torch chances of meeting with China's Xi

With his storm of tariffs on Chinese goods, US President Donald Trump has torched ties with Beijing and likely wrecked any hope of meeting his counterpart Xi Jinping in the near term, analysts say.

Text size:

Since taking office in January, Trump's maelstrom of import duties against friend and foe alike has rattled diplomats and pushed global markets to the brink of financial meltdown.

A screeching halt on further levies for most countries has calmed nerves -- for now at least -- but there has been no reprieve for China, accused by the US leader of trying to "screw" Washington.

Adding to the tensions, talks between the two superpowers on international issues like climate change and opioid addiction seem to have stalled.

"Under Trump, China-US ties have sunk to the worst state of affairs short of a fairly large armed conflict," Shi Yinhong, director of the Center for American Studies at Beijing's Renmin University of China, said.

"Trump has unsheathed his dagger against China at a speed that exceeded many people's imaginations," he said.

After a flurry of tit-for-tat hikes, the United States now charges tariffs of 145 percent on many products imported from China, with cumulative duties on some goods reaching a staggering 245 percent.

A furious Beijing has set a retaliatory toll of 125 percent on goods entering from the United States, and dismissed further rises as pointless.

US-China relations are in "effectively a state of economic war", Susan Thornton, who served as acting top US diplomat for East Asia during Trump's first administration, told AFP.

"China views Trump's stated intent to... erect a 'tariff wall against China' as illegal and an existential threat," Thornton, now a senior fellow at Yale's Paul Tsai China Center, said.

- No backing down -

Just a few weeks ago, multiple reports suggested Beijing and Washington were mulling a face-to-face meeting to coincide with the two leaders' birthdays in June.

But recent events have effectively left those plans dead in the water.

Trump's "rude and unreasonable" behaviour has made any talks in the first half of the year "very unlikely", according to Wu Xinbo, director of the Center for American Studies at Shanghai's Fudan University.

Rosemary Foot, a professor and senior research fellow at Oxford University's politics and international relations department, said Beijing "would want to ensure that there would be some policy deliverables and Xi would be treated with respect".

Trump has approached the trade conflict with a typical mixture of flattery, denigration and bombast -- slamming China's "lack of respect" while hailing Xi as a "smart guy" and talking up a prospective trade deal.

Ali Wyne, a senior research and advocacy adviser focusing on US-China ties at the International Crisis Group think tank, said neither Trump nor Xi "will want to convey that he has yielded to the other".

The "likeliest impetus" for talks, he said, would be a scenario where both could claim victory -- Trump by his willingness to keep ratcheting up economic pressure, and Xi by showing China's resilience.

Rana Mitter, a professor of US-Asia relations at the Harvard Kennedy School, said a Trump-Xi summit was "still quite possible", citing the mercurial US leader's dizzying pivot from threatening war against North Korea in 2017 to meeting Kim Jong Un the following year.

"Beijing will not agree to meet if it looks as if they are conceding to the US, so behind-the-scenes diplomacy will likely be necessary," Mitter said.

- Back door shut -

Other analysts said Trump's fiery rhetoric and crippling tariffs had likely laid waste to backdoor talks.

Under his predecessor Joe Biden, Washington and Beijing maintained dialogue on the fentanyl crisis, climate change and other issues.

Those channels "are moribund now, as far as I can tell, and that makes it difficult to prepare the ground for such a summit", Oxford's Foot said.

Wu, of Fudan, said Trump's out-of-hand dismissal of Chinese efforts to curb fentanyl precursor exports and his climate change denial meant the space for lower-track dialogue "has, in practice, already disappeared".

In official pronouncements, China has mocked Trump's tariffs as a "numbers game" and a "joke" with no economic benefits.

Beijing has also sought to cast itself as a defender of fair trade and stability in the face of unwarranted US "bullying".

Experts said China may yet scent opportunity in the face of Trump's economic carnage.

"Trump's colossally ill-conceived mass alienation of other countries may mean more receptivity for China's outreach," said Yale's Thornton -- adding that Beijing was likely conducting "economic triage".

K.Tanaka--JT