China, E.U. retaliate as new U.S. tariffs go into effect; Stocks resume slump
A former Biden administration official in charge of U.S. policy toward China has warned that Trump’s simultaneous trade offensive against dozens of countries might be giving China an edge on the world stage.
“The fact that the administration came out against nearly 70 countries at once makes me worried that it may have actually improved China’s position,” Rick Waters, deputy assistant secretary of state for China and Taiwan in the last administration, told NBC News.
“If you go after your friends harder than your enemies, you lose the leverage of being able to bring those friends to your side and improve your position with the primary competitor,” Waters told NBC News.
China, he said, was “hunkering down for a long period,” hoping it can outlast the U.S.. He added that Beijing has other means to hurt the U.S. in return, including halting cooperation on fentanyl.
“I think we’re just in a bad marriage here that’s leading towards some sort of economic divorce,” he said.
Even though China relies far more on its exports to the U.S. than vice versa, the U.S.’ doubling down on its tariffs on China isn’t going to force Beijing’s hand, he said. “The Chinese are proud. They have a history of humiliation at the hands of foreign powers.”
You may be interested
‘Greatest’ Robert De Niro film on one streaming service – not Netflix or Amazon | Films | Entertainment
new admin - Apr 25, 2025A Robert De Niro film that scored higher than Goodfellas and The Godfather: Part II on Rotten Tomatoes is a…
NFL Draft: Deion Sanders takes aim at critics as Shedeur’s stock falls
new admin - Apr 25, 2025[ad_1] NEWYou can now listen to Fox News articles! Thursday night should be a celebration for the Sanders family if…
‘Backpackers blocked my driveway with three cars – but I got revenge’
new admin - Apr 25, 2025A doctor who was fed up after a group of backpackers parked three large cars on his private driveway got…
