Tough trade talk

Financial Mail - - MARKET WATCH -

China will keep hit­ting back at Wash­ing­ton as more US trade tar­iffs are im­posed, but its coun­ter­strikes will re­main as tar­geted as pos­si­ble to avoid harm­ing busi­nesses in China, whether Chi­nese or for­eign, fi­nance min­is­ter Liu Kun has said.

For now, the ef­fect of China-us “trade fric­tions” on the Chi­nese econ­omy has been small, but Liu is con­cerned about po­ten­tial job losses and lost liveli­hoods, he told Reuters in his first me­dia in­ter­view since tak­ing up the po­si­tion in March.

The trade con­flict es­ca­lated late last week, with the US and China heap­ing more tar­iffs on each other’s goods. Since early July, the world’s two largest economies have slapped each other with tar­iffs on a com­bined $100bn of goods.

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