Xi Jinping has refused to back down in China’s tariff confrontation with President Trump. But he’ll have to persuade his people that the pain is worth it.
China’s latest move: an additional 50 percent tariff on U.S. goods. Neither side wants to look weak by backing down, but a collapse of their trade ties could have profound consequences.
Faced with economic disruption, Beijing is presenting itself as too powerful to succumb to U.S. pressure and casting itself as a responsible champion of fair trade.
Even as China offers itself to nations like Japan as a more reliable partner, its ships are pushing into their neighborhoods — sometimes on the very same day.