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00:00So the real question, though, is if the U.S. does indeed impose this extra 50 percent tariff tomorrow, what could or would China possibly do next?
00:12It's a great question. I think China is going to have to fight it on two fronts.
00:15So we've already seen some countermeasures proposed.
00:18And interestingly, they go beyond the realm of tariffs into things like fentanyl cooperation, into things like IP, even into potentially banning U.S. films in China.
00:28But I also think the other key area of focus for China is going to be the rest of the world.
00:34And I think 54 percent tariffs on China were not a surprise.
00:37This is similar to what President Trump was threatening on the campaign trail.
00:41What is a surprise of quite how high tariffs are on the rest of the world?
00:45Trump thinks China is the main offender when it comes to trade imbalances.
00:48But actually, he's also put very high tariffs on some of those countries like Vietnam, like Japan, that the U.S. has traditionally seen as counterweights to China's influence.
00:56And so I think for China, another priority will be making sure that it builds common ground with those countries and that those countries aren't pressured into potentially curbing their ties with China in exchange for concessions from the U.S. on tariff free.