China plays for time in U.S. trade war with subtle shift in rhetoric amid weakening economy [Financial Post (Toronto, Ontario, Canada)]
Barclays PLC (BCS)
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Source: Financial Post
China plays for time in U.S. trade war with subtle shift in rhetoric amid weakening economy China may have aims of restarting stalled negotiations in an effort to limit the need to unleash punitive measures that could hurt its own economy Officials in Beijing appear to be toning down their responses to Donald Trump’s tariff threats, amid a slowing economy, a falling stock market and a weakening currency. Evidence of the shift continued Thursday when the Commerce Ministry held off detailing how it plans to retaliate against Trump’s latest threat to impose tariffs on US$200 billion worth of Chinese-made goods. Commerce Ministry spokesman Gao Feng said the government will take “necessary” steps to hit back, but when pressed he stopped short of repeating a previous pledge to respond with “quantitative” and “qualitative” measures and didn’t outline specifics about which measures China would retaliate with. To observers, the ever-so-slight change of tone suggests China could be playing for
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