China wants a deal but is prepared for prolonged trade war – Global Times
|Hu Xijin, the Editor-in-chief of Chinese and English editions of the Global Times, tweeted out last minutes: “Few Chinese believe that China and the US can reach a deal soon. Given the current poor China policy of the US, people tend to believe the significance of a trade deal, if reached, will be limited. China wants a deal but is prepared for the worst-case scenario, a prolonged trade war.”
His comments come after US President Trump said on Tuesday that China would have to make a deal he likes and threatened to raise tariffs further if no trade deal is reached with China.
Meanwhile, the US-China political tensions over the Hong Kong human rights bill pose a near-term risk for the markets, with China reiterating retaliation against the US’ interference in its internal affairs. USD/JPY is seeing a fresh leg lower and heads towards day’s low of 108.36.
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