China says will never make concessions in important matters of principle
China is not backing down from their stance as the stalemate continues
- Says that a trade resolution doesn't require Trump and Xi to meet
- Says trade dispute's impact on China's economy is completely manageable
- Says will further implement measures aimed at minimising trade dispute impact
- Says that US companies and consumers are the victims of a trade war
- Reiterates that it would be forced to retaliate if US is headstrong on trade
Expect this rhetoric to continue raging on for the next few months at the very least. A trade deal is certainly not in the offing and if anything else, we'll likely see further escalation in tensions before both sides are ready to try and sit down to talk again.