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

News Snapshot:

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"....