China Ready to Fight Trade War but Open to Talks

China’s said it is ready to take more steps to protect its interests if the United States moves ahead in enacting new tariffs.

China’s foreign ministry said on Monday that it is resolutely opposed to new U.S. tariffs and said the two countries issues should be resolved via talks.

A spokesman said China hopes the United States can come back to the path of rationality, adding that “decoupling” won’t resolve current problems.

The statement comes after U.S. President Donald Trump on Friday announced an extra 5% duty on some $550 billion of Chinese goods, following China’s announcement of retaliatory tariffs on $75 billion of imports from the United States.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza