Chinese companies are relieved Trump’s wider tariffs have been paused but on social media, posts are full of defianceOn Thursday morning in Shanghai, as shoppers filled the luxury malls and delivery drivers whizzed around the winding streets at breakneck speed, financiers breathed a cautious sigh of relief. Overnight, US President Donald Trump had reversed course, announcing a 90-day pause on his so-called “reciprocal tariffs” of up to 50% for dozens of countries. Although China got no such reprieve – instead, the levy on Chinese goods was increased to 145% – the temporary return of normal trade channels showed Chinese businesspeople that all was not lost.Trump’s announcement of punitive tariffs on countries across south-east Asia had risked closing off the routes that Chinese companies have been using since his first term in office to circumvent his levies. Continue reading...