Comments by China's commerce ministry
- Says deeply regrets US tariffs hike
- Will take countermeasures against US on tariffs hike
- Hopes that both sides can meet halfway on trade
- Still willing to continue talks with US
No surprises there as this was very much coming since yesterday and the fact that trade talks aren't really going anywhere just yet. I highly doubt both sides will be able to reach an agreeable compromise and even if they do, expect a watered-down version of a deal.
Regardless, the headlines here aren't really going to ease tensions and help risk assets to pull off a sustained rally. Let's see how negotiations proceed in the coming day.
