Bloomberg has a great summary of China's stance as tariff day, July 6, nears.
China insists it will not fire the first shot, but says retaliatory tariffs will become effective "immediately" if the U.S. follows through with 25% duties on $34B of Chinese imports.
China says it will fight back with “equal scale, equal intensity,” targeting soybeans, corn, wheat, rice, sorghum, beef, pork, poultry, fish, diary products, nuts and vegetables, and autos in its first round of counter measures.
Are markets ready? "Any market rebound before the July 6 deadline would be just temporary. All eyes are on the Trump administration’s move to impose the 25% additional tariff on Friday and what’s next after that," said Zhang Gang, a Shanghai-based analyst.
Read the whole article here.
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