China’s Ministry of Commerce (MOFCOM) was out with some comments in the last hour saying that the US needs to address China’s concerns in order to reach a deal and tariffs won’t help to solve trade imbalances.
Key quotes:
“¢ US consumers will have to pay the costs of tariffs.
“¢ China is firmly against US bullying, forced to retaliate.
“¢ US bullying will eventually hurt the US itself.
“¢ US escalation hurts China-US trade talks.
“¢ Any progress in trade talks depends on the US attitude.
“¢ Trade talks can only continue on the basis of equality.
“¢ China will not accept a deal that hurts sovereignty, pride.
“¢ China to protect the rights of all foreign companies.
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