China trade outlook darkens as Trump threatens to impose total tariffs
Beijing — China’s chances of escaping the trade conflict with the US with only minor damage to its economy just got slimmer. On Friday, US President Donald Trump doubled down on his threats to impose higher tariffs on China’s goods, saying he is ready to tax all imports "at short notice". While economists see the immediate impact of trade tension as limited, the effect on economic confidence may be larger, warned former People’s Bank of China governor Zhou Xiaochuan. Trade data for August released on Saturday echoed both the cause and effect of the standoff with the US — the surplus with the US rose to a record, while overall export growth slowed. A lone bright spot may be faster-than-expected import growth, signalling that domestic demand in the world’s second-largest economy is holding up for now. 'Long, hard road' "With further large-scale US tariff measures imminent, Chinese exporters will be hit hard and China’s GDP growth rate in 2019 is likely to be dented," said Rajiv Biswas...
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