According to US Trade Representative Robert Lighthizer, China hasn’t done enough to curb its “unfair, unreasonable, and market-distorting practices”, as outlined by the US’ Section 301 report on China.
According to Lighthizer, China appears to have taken even further action in recent months, a creatively-interpretive way of saying that they’re not doing what the US representatives want, with Lighthizer stating that China has “made it clear” that they have no intent on changing their policies in response to the initial Section 301 action.
The significant ramp-up in tradewar rhetoric comes just ahead of November 30th’s G20 sideline meeting, and the sudden left turn back into antagonistic headlines could easily see market sentiment continue to slip in the run-up to the Trump-Xi showdown.
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