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Strategies & Market Trends : John Pitera's Market Laboratory
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From: elmatador8/2/2019 10:53:04 AM
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China Wants to Hit Back at Trump. Its Own Economy Stands in the Way.

By Alexandra Stevenson Aug. 2, 2019

BEIJING — As China considers ways to retaliate against President Trump’s mounting tariffs, it has increasingly acknowledged that it must first address its main obstacle to punching back: its own slumping economy.



    Chinese officials have vowed to respond with measures of their own if Mr. Trump follows through on his threat to put 10 percent tariffs on $300 billion in Chinese imports a year.

    If Mr. Trump enacts the tariffs next month, as he said he would do on Thursday, the costs would rise for nearly everything China ships to the United States, from shoes to car parts to the latest gadgets.

    On Friday, China’s Ministry of Commerce, which is heavily involved in the country’s trade policy, said it would “take necessary counter measures to resolutely defend the core interests of the country and the fundamental interests of the people.”

    The question is how. China’s imports from the United States only a fraction of the trade going the other way, so it cannot match Washington tariff for tariff.

    Much of that trade consists of agriculture goods like soybeans, as well as specialized products like Boeing jetliners or the American-made chips for the smartphones China makes.

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