Influential China bloggers post options to hit back at Trump

(Bloomberg) — Two influential Chinese bloggers posted an identical set of measures that authorities are mulling to hit back at the latest tariff threats from US President Donald Trump, including levies on American farm goods and a ban on Hollywood movies.

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The potential moves were shared on Tuesday on the social media pages of people including Liu Hong, a senior editor at Xinhuanet, the website of the official Xinhua News Agency. The possible measures, attributed to unidentified people familiar with the matter, are:

• Suspending China-US cooperation on fentanyl-related issues

• “Significantly” increasing tariffs on US agricultural products, such as soybeans and sorghum

• Banning the import of US poultry

• Imposing curbs on US services with China

• Reducing or banning the import of US films

• Investigating the intellectual property benefits of US companies operating in China

One of the accounts, called Niutanqin, is a verified personal account run by Liu, who’s worked for Xinhua since 1998. He posted the information just hours after China vowed to “fight to the end” in response to Trump’s latest tariff threats. He’s the deputy editor-in-chief of the state-run news website, according to a December filing.

The same outline has also been shared by Chairman Rabbit, the social media moniker for Ren Yi, the influential Harvard University-educated grandson of former Guangdong party chief Ren Zhongyi.

Liu and China’s Commerce Ministry didn’t immediately respond to a request for comment.

The Hang Seng China Enterprises Index pared its advance to less than 1% as trading resumed after the mid-day break. The gauge finished the morning session up 2.3% after rising as much as 3.7% earlier.

Shares of rare earth producers, filmmakers and agricultural companies listed in Hong Kong and China extended gains in the afternoon session.

China has pledged to retaliate after Trump vowed to slap additional 50% import taxes on China unless it withdraws its tit-for-tat retaliation against his earlier “reciprocal” levies, which are due to take effect on April 9.

Chinese authorities have signaled their determination to support markets. The central bank has loosened its grip on the yuan to boost the appeal of its exports and a group of state-linked funds known as the national team scooped up assets.