The China Mail - Beijing consumers mull spending habits as 'worrying' tariffs kick in

USD -
AED 3.672955
AFN 72.000333
ALL 87.274775
AMD 390.939733
ANG 1.80229
AOA 911.999544
ARS 1137.970099
AUD 1.565349
AWG 1.8
AZN 1.702368
BAM 1.720686
BBD 2.017877
BDT 121.428069
BGN 1.721593
BHD 0.376901
BIF 2930
BMD 1
BND 1.312071
BOB 6.906563
BRL 5.808197
BSD 0.999437
BTN 85.314611
BWP 13.77569
BYN 3.270808
BYR 19600
BZD 2.007496
CAD 1.384165
CDF 2876.999915
CHF 0.81849
CLF 0.025203
CLP 967.160193
CNY 7.301418
CNH 7.30166
COP 4310
CRC 502.269848
CUC 1
CUP 26.5
CVE 97.389964
CZK 22.038598
DJF 177.720121
DKK 6.56557
DOP 60.500471
DZD 132.565993
EGP 51.126898
ERN 15
ETB 133.023649
EUR 0.879325
FJD 2.283697
FKP 0.754982
GBP 0.753835
GEL 2.740029
GGP 0.754982
GHS 15.56018
GIP 0.754982
GMD 71.501199
GNF 8655.523342
GTQ 7.698128
GYD 209.656701
HKD 7.76293
HNL 25.908819
HRK 6.629603
HTG 130.419482
HUF 359.105021
IDR 16862.9
ILS 3.68332
IMP 0.754982
INR 85.377498
IQD 1310
IRR 42125.000162
ISK 127.590239
JEP 0.754982
JMD 157.965583
JOD 0.709301
JPY 142.473504
KES 129.501691
KGS 87.233499
KHR 4015.000221
KMF 433.496888
KPW 900.02464
KRW 1418.390076
KWD 0.30663
KYD 0.832893
KZT 523.173564
LAK 21630.000106
LBP 89600.00022
LKR 298.915224
LRD 199.97496
LSL 18.856894
LTL 2.95274
LVL 0.60489
LYD 5.469672
MAD 9.275034
MDL 17.289555
MGA 4552.892736
MKD 54.091003
MMK 2099.136407
MNT 3546.835427
MOP 7.990393
MRU 39.435529
MUR 45.090178
MVR 15.39885
MWK 1736.000026
MXN 19.69325
MYR 4.407497
MZN 63.905028
NAD 18.856894
NGN 1604.686468
NIO 36.775056
NOK 10.479098
NPR 136.503202
NZD 1.674173
OMR 0.384998
PAB 0.999437
PEN 3.763002
PGK 4.133235
PHP 56.712498
PKR 280.599529
PLN 3.762405
PYG 7999.894426
QAR 3.640603
RON 4.378101
RSD 103.137317
RUB 82.174309
RWF 1415
SAR 3.752237
SBD 8.368347
SCR 14.241693
SDG 600.501804
SEK 9.625655
SGD 1.310745
SHP 0.785843
SLE 22.774956
SLL 20969.483762
SOS 571.503924
SRD 37.14988
STD 20697.981008
SVC 8.745073
SYP 13001.532916
SZL 18.819946
THB 33.346949
TJS 10.733754
TMT 3.5
TND 2.988057
TOP 2.342102
TRY 37.954995
TTD 6.781391
TWD 32.523991
TZS 2687.49876
UAH 41.417687
UGX 3663.55798
UYU 41.913007
UZS 12986.521678
VES 80.85863
VND 25870
VUV 122.55164
WST 2.793746
XAF 577.111964
XAG 0.03066
XAU 0.000301
XCD 2.70255
XDR 0.717698
XOF 575.000108
XPF 102.775003
YER 245.250116
ZAR 18.800298
ZMK 9001.198062
ZMW 28.458439
ZWL 321.999592
  • CMSD

    0.0400

    21.96

    +0.18%

  • JRI

    0.1600

    12.4

    +1.29%

  • BCC

    0.7800

    93.47

    +0.83%

  • SCS

    0.0500

    9.76

    +0.51%

  • CMSC

    0.0400

    21.82

    +0.18%

  • BCE

    0.4200

    22.04

    +1.91%

  • RIO

    1.0100

    58.17

    +1.74%

  • NGG

    0.6300

    72.11

    +0.87%

  • RBGPF

    0.1400

    63.59

    +0.22%

  • AZN

    0.5400

    67.59

    +0.8%

  • GSK

    0.5600

    35.93

    +1.56%

  • RELX

    1.0000

    52.2

    +1.92%

  • BTI

    0.5400

    42.37

    +1.27%

  • RYCEF

    0.1000

    9.5

    +1.05%

  • VOD

    0.1400

    9.31

    +1.5%

  • BP

    0.6600

    28.32

    +2.33%

Beijing consumers mull spending habits as 'worrying' tariffs kick in
Beijing consumers mull spending habits as 'worrying' tariffs kick in / Photo: © AFP

Beijing consumers mull spending habits as 'worrying' tariffs kick in

Chinese consumers in Beijing mulled their their spending habits and said they are prepared to forego American brands if that means avoiding the pinch from the escalating trade war with the United States.

Text size:

Some worried prices of their favourite products could escalate after US President Donald Trump's tariffs came into force on Wednesday.

Outside a shopping mall in central Beijing, massage therapist Gao Xin, 26, listened to music on his iPhone and considered whether his next device would have to be a different brand.

"I have always used (US products) in the past, including the (phone) I use now, but if there is really a big wave of price increases, I may choose domestic ones."

Tariffs levied by both Beijing and Washington stand to have a complex impact on prices of goods from around the world as supply chains are hit by higher costs of components or equipment.

But prominent US brands such as Apple -- even though it produces phones in China -- are an easy target for anxiety about price hikes caused by the trade war.

Nearby, a man sporting Oakley sunglasses said he would switch to a non-US brand if his favourite products became more expensive.

China imported around $163 billion-worth of goods from the United States in 2024 -- 6.3 percent of the Asian country's imports.

After a tit-for-tat volley between Washington and Beijing, China faces cumulative tariffs of 104 percent -- the highest imposed by Trump's sweeping assault on global trade.

China has responded with its own 84 percent tariff on US goods, due to take effect from Thursday.

"It's very worrying," lawyer Yu Yan, 54, said of the duties, adding that she sees echoes of the Great Depression in recent events.

"The economy may fall into a depression, which is something we all don't want to see," she told AFP.

China's economy is already struggling from a property crisis, low consumption and high government debt.

The new tariffs could hurt the country's goal of achieving around five percent growth this year, Nomura analysts said last week.

- Heating up -

Stock markets around the world tumbled as Trump's measures against dozens of trading partners came into effect.

Some countries dispatched envoys to Washington to negotiate, while China -- Washington's top economic rival but also a major trading partner -- vowed to take "firm and forceful" steps.

In Beijing, massage therapist Gao said he saw the tariffs that Beijing and Washington were lobbing at each other as "a means of intimidation".

"I think there will definitely be an impact, but for most ordinary people, I don't think it will be a big problem, unless you are doing some foreign trade," he said.

Tech professional Sun Fanxi said reading about the tit-for-tat measures made her nervous.

"I'm scared that (tariffs) will lead to a real hot war," the 27-year-old said. "That would be bad for everyone."

But she added that no matter what happens, she fully supports China's moves.

"If the country wants us to do something, then so be it," she said.

X.So--ThChM