Two youths charged with second degree murder | SaltWire #newsupdate #halifax #police #newstodayBEIJING - China on Friday passed a law leaving its biggest trade partners in no doubt that it can hit back should they put tariffs on the exports of the world's No.2 economy as Washington and Brussels take aim at Beijing over excess industrial capacity.
Beijing has stepped up its trade defence capabilities since President Xi Jinping came to power in 2012, ushering in laws empowering officials with ways of retaliating against countries that take issue with the way China trades by interfering with the movement of goods, data and personnel between those markets.
"It's like a nuclear weapon: the point of having it is not to use it, but to deter others from using the same against you," said Henry Gao, professor at Singapore Management University. "But I think one point China is trying to make by including this in the new Tariff Law is that this is our prerogative: If you're going to hit us with tariffs, we can do the same."