China putting up a strong front ahead of trade talks later in Washington
- Prepared for all possibilities
- Hopes US can resolve existing problems through cooperation and consultation
- If US implements tariffs, China will take necessary countermeasures
- Declines to comment on specifics, but says pay attention to future announcements
- Willing to continue talks with US to resolve dispute
- But firmly opposes unilateral imposition of tariffs
Risk assets are taking a further hit on the headlines here as China is drawing a hard line ahead of talks today. It's very much a similar approach that they have had in the past but markets are seemingly growing less optimistic of a deal judging by the reaction.
USD/JPY has fallen to a low of 109.64 while the likes of the yuan and equities are taking a further hit on the day as well.
