It is nothing new for the U.S. to try to escalate tensions so as to exploit more gains at the negotiating table. We are looking forward to a more beautiful counter-attack and will keep increasing the pain felt by the U.S.
That's from an "editorial" published in the Global Times on Monday and suffice to say it suggests Beijing is nowhere close to caving in the face of renewed pressure from the the Trump administration on trade.
Over the weekend, multiple outlets confirmed Bloomberg's Friday reporting which quoted four sources as saying Trump has instructed aides to move ahead with tariffs on $200 billion in additional Chinese goods. On Sunday, WSJ said it's now possible that Beijing will decline to engage Washington further on the issue, which makes sense considering the U.S. President is openly bragging about negotiating in bad faith.
Obviously, this is bad news for risk sentiment. Investors are on edge Monday and Chinese stocks fell. The Shanghai Composite closed at its lowest level since 2014, notable given that the last several times the index has approached the 2016 lows, state-sponsored vehicles stepped in to prop it up.
You can probably expect state buying tomorrow if t
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