RBA deputy governor says China knew it had a ‘strong hand’ in trade war with US

Andrew Hauser, the Reserve Bank’s deputy governor, says he was in China the week after US President Donald Trump shocked the world with his so-called “Liberation Day” tariffs in early April, and he witnessed something remarkable. He said after US tariffs on China rose to 145 per cent, he saw a “striking confidence” among local people that China was heading into a trade war with a “strong hand.” He said there was a general expectation that a large share of the economic costs of US tariffs would fall on the US itself, and a determination “not to cushion that impact”….