After latest threats, Chinese see Trump as a Marvel villain out to destroy it
By Anna Fifield Anna Fifield Beijing bureau chief. Email Bio Follow May 6 at 8:09 AM BEIJING — President Trump is, according to the Chinese Internet, Thanos, the Marvel supervillain who can wipe out half of the universe with a snap of his fingers. But in Trump’s case, it’s the Chinese stock market he destroyed with his threats to raise tariffs if Beijing doesn’t bend to his demands on trade.
The Chinese stock markets had their sharpest fall in more than three years Monday, with the Shanghai Composite Index losing 5.58 percent and the Shenzhen Component Index closing down 7.56 percent. The tightly-controlled Chinese currency dropped to a four-month low after Trump’s surprise tweets. American trade negotiators were in Beijing last week for talks that Treasury Secretary Steven Mnuchin described as “productive,” and a Chinese delegation is due in Washington on Wednesday.Then Trump, who prides himself on being a master dealmaker, took to Twitter on Sunday threatening to increase tariffs on $200 billion worth of Chinese goods from 10 percent to 25 percent on Friday, and levy a new 25 percent fee on the remaining $325 billion of Chinese “untaxed” imports “shortly.
But a Foreign Ministry spokesman said Monday that the Chinese delegation was set to travel as scheduled. “The Chinese team is preparing to travel to the U.S. for the trade talks,” Geng Shuang told reporters, saying that Trump had made many similar threats before.
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