financetom
Business
financetom
/
Business
/
China censors some tariff-related content on social media
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
China censors some tariff-related content on social media
Apr 9, 2025 2:35 AM

HONG KONG, April 9 (Reuters) - China began censoring

some tariff-related content on social media on Wednesday after

U.S. "reciprocal" tariffs on dozens of countries took effect,

including massive 104% duties on Chinese goods, while posts

criticising the U.S. were top hits.

Hashtags and searches for "tariff" or "104" were mostly

blocked on social media platform Weibo, with pages showing an

error message.

Other hashtags, particularly the U.S. having an egg

shortage, were amongst the most viewed on Weibo. State

broadcaster CCTV started a hashtag

"#UShastradewarandaneggshortage."

The U.S. is "waving the tariff stick in a high profile

manner, imposing tariffs on EU steel and aluminium products..

but also writing letters to European countries in a low voice,

urgently asking for eggs," CCTV said in a post on Weibo.

Beijing announced counter-tariffs on the U.S. last week and

has vowed to fight what it views as blackmail.

Internet censors have also allowed mocking U.S. comments

to proliferate on Chinese social media, depicting the United

States as a globally irresponsible trading partner, as China

prepares the stage for a wider trade fight with the world's

biggest economy

China controls the internet through a system known as the

"Great Firewall" and social media posts are routinely censored

when deemed detrimental to national interests. Foreign social

media networks such as Instagram and X are blocked, a system

that has created a captive market for domestic alternatives.

Beijing lawyer Pang Jiulin, who has more than 10.5 million

followers on his Weibo account, said China's share of exports to

the U.S. would quickly be replaced by countries such as Vietnam

and India, and Chinese companies would lose the opportunity to

continue exporting to the U.S.

In the face of U.S. economic aggression, China has no way

out but to "fight to the end" he said.

"If China also increases tariffs to 104%, the prices of

American goods including Apple ( AAPL ) and Tesla will

soar, and Chinese will pay a greater price for their favourite

American goods."

Hitting back with its own tariffs and export controls may

not be very effective, given China ships to the U.S. about three

times as much goods than around the $160 billion it imports. But

it may be the only option if Beijing believes it has a higher

pain threshold than Washington has.

Chinese stocks tumbled on Monday with the Shanghai Composite

Index down 7% on Monday in its worst day in five years,

but they closed higher on Wednesday, buoyed by state pledges to

support local markets.

Prominent Chinese commentator Hu Xijin said on Wednesday

that Trump's team was "really delusional".

"They are at war not only with the whole world, but also

with the most basic rules of human society, so their chances of

victory are zero," Hu said.

"Their reciprocal tariffs will be nailed to the pillar of

shame in history for future generations to laugh at."

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
LKQ Q2 Adjusted Earnings Fall, Revenue Rises; Trims FY24 Earnings Outlook; Shares Decline
LKQ Q2 Adjusted Earnings Fall, Revenue Rises; Trims FY24 Earnings Outlook; Shares Decline
Jul 25, 2024
07:45 AM EDT, 07/25/2024 (MT Newswires) -- LKQ (LKQ) reported Q2 adjusted earnings Thursday of $0.98 per diluted share, down from $1.09 a year earlier. Analysts polled by Capital IQ expected $1.03. Revenue for the quarter ended June 30 was $3.71 billion compared with $3.45 billion a year earlier. Analysts surveyed by Capital IQ expected $3.87 billion. The company trimmed...
Tractor Supply misses quarterly sales estimates on weak demand
Tractor Supply misses quarterly sales estimates on weak demand
Jul 25, 2024
July 25 (Reuters) - Farming supplies retailer Tractor Supply ( TSCO ) missed analyst estimates for second-quarter sales on Thursday, hit by tepid demand for its products including truck tools and fertilizers. Demand for the company's higher-margin discretionary items, such as lawn mowers, generators and consumables such as livestock, fell as value-seeking consumers prioritized spending on daily essentials amid inflationary...
Universal Music Group shares drop 30% as streaming growth disappoints
Universal Music Group shares drop 30% as streaming growth disappoints
Jul 25, 2024
(Reuters) - Universal Music Group shed around $15 billion off its value on Thursday after the world's biggest music label reported lower-than-expected streaming and subscription revenue for the second quarter. The shares fell 30% at one point and were down 26% by 1058 GMT, on track for their biggest one-day loss ever. The move has wiped off some 13.6 billion...
Hasbro's Q2 Adjusted Earnings Rise, Revenue Drops
Hasbro's Q2 Adjusted Earnings Rise, Revenue Drops
Jul 25, 2024
07:45 AM EDT, 07/25/2024 (MT Newswires) -- Hasbro ( HAS ) reported Q2 adjusted earnings of $1.22 per diluted share on Thursday, up from $0.49 a year earlier. Analysts polled by Capital IQ expected $0.76. Revenue for the quarter ended June 30 was $995.3 million compared with $1.21 billion a year earlier. Analysts surveyed by Capital IQ expected $943.4 million....
Copyright 2023-2025 - www.financetom.com All Rights Reserved