Comments by China's commerce ministry

  • China does not want a trade war
  • But China is not afraid of one after the call for additional $100 bn tariffs by the US
  • Will take new comprehensive measures to safeguard interests
  • Will monitor further moves from the US after the announcement earlier

Well, that didn't take too long did it?

Not likely to hear about those new measures from China until the US is firm about those additional $100 bn tariffs and what products/industries they will be targeting.

In the meantime, the name of the game is still tit-for-tat retaliation and it doesn't look like we are any closer to negotiations today than we were yesterday. If anything, it only seems like we're moving further away from it.