There has yet to be a substantive reaction to the additional 10% tariffs Trump announced yesterday, but both the Ministry of Foreign Affairs and the Ministry of Commerce (MoC) condemned the move. I fully expect that the PRC has prepared a package of countermeasures, one that like the response to the first 10% at the start of February will include much more than tariffs. The key question is does Xi pull the trigger now and continue the escalatory cycle, or does he hold off and try harder to have a call with Trump?
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February Politburo meeting; Initial reaction…
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There has yet to be a substantive reaction to the additional 10% tariffs Trump announced yesterday, but both the Ministry of Foreign Affairs and the Ministry of Commerce (MoC) condemned the move. I fully expect that the PRC has prepared a package of countermeasures, one that like the response to the first 10% at the start of February will include much more than tariffs. The key question is does Xi pull the trigger now and continue the escalatory cycle, or does he hold off and try harder to have a call with Trump?