Fang Xinghai, vice chairman of the China Securities Regulatory Commission (CSRC) criticized that the Trump’s new round of tariffs on China has “poisoned” the atmosphere for negotiations. Fang also warned that “President Trump is a hard-hitting businessman, and he tries to put pressure on China so he can get concessions from our negotiations. I think that kind of tactic is not going to work with China.” Also, according to Fang, “if he puts tariffs on all Chinese exports to the United States – which he says he will – even in that scenario, the negative impact on China’s economy is about 0.7 percent.”
Separately, the South China Morning Post in Hong Kong reported, citing unnamed source, that China will not send delegation to the US for more trade talks after the new round of tariffs.
All in all, what’s next will depend on the outcome of Vice Premier Liu He’s meeting in Beijing on the issue.