BEIJING, Feb 5 — China’s new tariffs on US imports like oil, coal and cars are relatively modest in scale, suggesting that Beijing is hoping for a last-minute deal but also...
An aerial view shows containers at the port in Nanjing, in China's eastern Jiangsu province on February 4, 2025. — AFP picas a first-time user . Exclusively for Malay Mail readers: Use codeBEIJING, Feb 5 — China’s new tariffs on US imports like oil, coal and cars are relatively modest in scale, suggesting that Beijing is hoping for a last-minute deal but also giving them the option to inflict more pain if needed, analysts say.
Over a third of that is energy: according to Beijing customs data, imports of oil, coal and LNG totalled more than US$7 billion last year. “The measures are fairly modest, at least relative to US moves,” Capital Economics’s Julian Evans-Pritchard said. “Given the current economic downturn, China cannot afford — and does not want — to impose excessive trade barriers,” she said.“Beijing cannot afford to take reckless actions, and I don’t think it wants to.”
People head to a subway station after arriving at Beijing Railway Station from their hometowns after a week-long Lunar New Year national holiday on February 4, 2025. — AFP picAnd Beijing can do “serious damage” to the United States should it decide to, Shehzad Qazi from China Beige Book told AFP. That it had chosen not to, analysts say, suggests Beijing is keen to leave the door open to negotiations with Washington that could see the tariffs reversed.
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