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.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
