https://sg.finance.yahoo.com/news/china-trade-war-u-replace-imports-state-media-004332044--business.html
China will impose a 5% and 10% against $60b of US goods for an in-kind retaliation. However, this is a much-muted response that I believe is just a face-saving grace because China doesn't want to be seen as meek.
Now that China has retaliated, Trump has no choice but to impose phase 3 tariffs as stipulated previously lest he will be deemed as breaking his promise.
After this muted response, I believe China is preparing for Trump's phase 3 tariffs with a much stronger response.
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2 comments:
https://sg.finance.yahoo.com/news/china-penalise-60-billion-u-imports-tit-tat-063835954--sector.html
https://sg.finance.yahoo.com/news/china-paper-warns-wont-play-defence-trade-trump-083247803--business.html
As predicted, China will respond with much stronger tactics in the future instead of the recent muted response.
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