EDITORIAL: The Straits Times says: Worsening of US-China ties a worry
The Straits Times
The Straits Times says
Worsening of US-China ties a worry
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For most retailers, including those in the US already buffeted by the surge of online shopping and other challenges, Mr Trump’s decision could be disastrous if he does follow through on the threat. His statements that tariffs have not caused prices to rise notwithstanding – but with the end-of-year festivities to come – toy prices will rise by about 17 per cent, shoes by 8 per cent, clothing by 5 per cent, and furniture and television sets by 4 per cent, says a report prepared for the US National Retail Federation. The Consumer Technology Association says laptop and tablet prices are expected to rise between US$50 and US$120, and smartphones by an extra US$70. Small wonder that Apple’s stock price has fallen more than 5 per cent since Mr Trump’s tweet. His Twitter announcements may appear to carry a triumphalist air. In fact, they may be signs of frustration that things are not going well in the trade negotiations with China. Last week’s talks in Shanghai were too brief to be productive: The US team led by Trade Representative Robert Lighthizer was there for a little over 24 hours, and their itinerary consisted of a dinner the night they arrived. Gearing for re-election, Mr Trump is guessing, accurately perhaps, that the Chinese are not ready to give him anything he can take to potential voters as a diplomatic victory. He seems to be calculating that confrontation with China may well be his ticket to winning a second term.
TO READ THE FULL ARTICLE: https://www.straitstimes.com/opinion/st-editorial/worsening-of-us-china-ties-a-worry
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