"Trade wars are good and easy to win," declared US President Donald Trump last month after announcing sweeping tariffs on steel and aluminium imports. The move was opposed by many of the president's closest advisers, who feared that it would trigger stinging counter-measures from China, Mr Trump's favourite bete noire and the prime target of the tariffs. Mr Trump, however, justified his decision as a smart and bold action that would even the playing field while fulfilling his popular campaign promise to punish China and other competitors for their "unfair" economic practices. A month later, we are witnessing the beginnings of a trade war between China and the US that could soon engulf the wider world. On Tuesday, Beijing responded to Mr Trump's tariffs on its steel and aluminium exports by slapping duties on more than 100 US products. Markets in Asia and Europe fell immediately and Standard & Poor's 500 index plunged to 2.3 per cent.
The argument that the flood of cheap goods from China has been detrimental to American manufacturing is a valid one; it does not, however, negate the fact the Chinese market, despite being partially protected from genuine competition by Beijing, is indispensable to American businesses. This reality cannot be wished away, nor can it be remedied with protectionism. China today possesses retaliatory powers that can hurt the US and in places where Mr Trump's supporters are concentrated. Last year the US exported soybeans worth $12 billion to China. Beijing's decision to impose tariffs on soybeans will inflict severe pain on farmers in Trump-supporting states such as Iowa, which depend heavily on exports to China. Mr Trump claims he is working for the good of his country, especially so-called victims of globalisation. There is mounting evidence to suggest his policies – forged in the crucible of personal rancour rather than national interest – are doing exactly the opposite.
Nonetheless, Mr Trump persists. On Tuesday, the White House announced that it will be levying fresh tariffs on more than 1,000 Chinese products, chiefly on tech and electronics. The tariffs will come into effect after a period of consultation with US businesses. Although the list omits everyday consumer products such as clothes, it is ordinary American taxpayers who will inevitably suffer as businesses eventually shift the rising costs of tariff-laden goods onto the consumer. There is some hope to drawn from the fact that most of these tariffs have not yet been enforced. This means there is yet time to engage in talks. Mr Trump must be reminded that trade wars, like all wars, acquire a momentum of their own once they begin. He must pull back from the precipice before the world collapses into a chaos that its people simply cannot afford.
TO A LAND UNKNOWN
Director: Mahdi Fleifel
Starring: Mahmoud Bakri, Aram Sabbah, Mohammad Alsurafa
Rating: 4.5/5
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
The Sand Castle
Director: Matty Brown
Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea
Rating: 2.5/5
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
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Ticket prices
- Golden circle - Dh995
- Floor Standing - Dh495
- Lower Bowl Platinum - Dh95
- Lower Bowl premium - Dh795
- Lower Bowl Plus - Dh695
- Lower Bowl Standard- Dh595
- Upper Bowl Premium - Dh395
- Upper Bowl standard - Dh295
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Results:
Men's wheelchair 800m T34: 1. Walid Ktila (TUN) 1.44.79; 2. Mohammed Al Hammadi (UAE) 1.45.88; 3. Isaac Towers (GBR) 1.46.46.
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Company%20Profile
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