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‘Brace for impact’: Chinese economist warns the gloves are off in US trade war

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‘Brace for impact’: Chinese economist warns the gloves are off in US trade war

With its forceful response to US President Donald Trump’s new tariffs, China has abandoned courtesy, leaving the chances of reconciliation slim as ties between the world’s two largest economies grow increasingly fraught, according to a prominent economist.

“Initially, China opted to maintain some courtesy to avoid too much escalation when Trump [first] hiked tariffs,” said Mao Zhenhua, an economics professor with the University of Hong Kong and co-director of Renmin University’s Institute of Economic Research.

Trump had announced increases of 10 per cent and later 20 per cent on Chinese goods after taking office in January. Last week, as part of a sweeping package of import duties on nearly every US trade partner, the president levied an additional 34 per cent.

“But [the new tariff] is boundary-testing, so Beijing had to respond differently and harshly. China’s response has also evolved, having realised that the measured approach does not work,” Mao said, calling Beijing’s counterpunch swift in contrast with other countries’ slower, more muted responses.

“The probability for both sides to meet for talks or even a turnaround is very small,” Mao added, warning all parties to “brace for impact”.

Set to take effect at noon on Thursday, China’s retaliatory universal tariffs of 34 per cent were seen as a sterner rebuke than the more selective hikes instituted after earlier US actions.

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Iran’s fight for survival / The widening war / Trump’s nebulous goals : Sources & Methods

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Iran’s fight for survival / The widening war / Trump’s nebulous goals : Sources & Methods
The U.S.-Israeli war with Iran is spilling out across the region. What are the goals? And how does it end?Host Mary Louise Kelly talks with International Correspondent Aya Batrawy, based in Dubai, and Pentagon correspondent Tom Bowman, about the U.S.-Israeli war with Iran. Six days of war have turned the middle east upside down, and it’s still not clear how the U.S. will determine when its objectives have been accomplished.Recommended Iran reading:Blackwave by Kim GhattasAll the Shah’s Men by Stephen KinzerPrisoner by Jason RezaianPersian Mirrors by Elaine SciolinoListener spy novel recommendation: Pariah by Dan FespermanEmail the show at sourcesandmethods@npr.orgNPR+ supporters hear every episode without sponsor messages and unlock access to our complete archive. Sign up at plus.npr.org.
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Map: 4.9-Magnitude Earthquake Shakes Louisiana

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Map: 4.9-Magnitude Earthquake Shakes Louisiana

Note: Map shows the area with a shake intensity of 4 or greater, which U.S.G.S. defines as “light,” though the earthquake may be felt outside the areas shown.  All times on the map are Central time. The New York Times

A light, 4.9-magnitude earthquake struck in Louisiana on Thursday, according to the United States Geological Survey.

The temblor happened at 5:30 a.m. Central time about 6 miles west of Edgefield, La., data from the agency shows.

U.S.G.S. data earlier reported that the magnitude was 4.4.

As seismologists review available data, they may revise the earthquake’s reported magnitude. Additional information collected about the earthquake may also prompt U.S.G.S. scientists to update the shake-severity map.

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Source: United States Geological Survey | Notes: Shaking categories are based on the Modified Mercalli Intensity scale. When aftershock data is available, the corresponding maps and charts include earthquakes within 100 miles and seven days of the initial quake. All times above are Central time. Shake data is as of Thursday, March 5 at 8:40 a.m. Eastern. Aftershocks data is as of Thursday, March 5 at 10:46 a.m. Eastern.

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Donald Trump has no ‘phase two’ plan for Iran war, says US senator

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Donald Trump has no ‘phase two’ plan for Iran war, says US senator

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