The Chinese Commerce Ministry saidTuesday that it would be forced to retaliate against what it called“ totally unacceptable” U.S. tariffs. There have been no confirmedhigh-level talks between the two sides since an early June visit toBeijing by U.S. Commerce Secretary Wilbur Ross that achieved nobreakthroughs.
Beijing “never yields to threat orblackmail” and will retaliate against the “groundless” tariffs,China's Vice Minister of Commerce Wang Shouwen said in writtencomments to Bloomberg. “The U.S. side ignored the progress, adoptedunilateral and protectionist measures, and started the tradewar.”
What Bloomberg Economists Say...
“As the targeted imports broaden toinclude more consumer products, a hit to household wallets and abump to inflation could start to shift the political calculus inthe U.S.” —Fielding Chen, Bloomberg's China economist
trade wars are good and easy to win
China Looks Prepared for Drawn-out Conflict
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