China Prepares to Fight Back?
The U.S.-China ‘cold war’ on trade is getting hotter. Following reports that the U.S. President Donald Trump might be considering a hike in proposed tariff rate to 20% from 10% on $200 billion of Chinese imports, China policymakers seem to be in no mood to give in.
On Thursday, China’s Ministry of Commerce announced that China is prepared to retaliate “to defend the nation’s dignity and the interests of the people, defend free trade and the multilateral system, and defend the common interests of all countries.” The Ministry also indicated that it is willing to negotiate as long as the parties “treat each other equally”.
Earlier this week, a Bloomberg report implied that the U.S. apparently is open to negotiations only if Beijing welcomes more competition in its markets and does not retaliate against U.S. trade measures – based on comments from two senior administration officials who did not want to be named, according to Bloomberg.
Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
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