Following the imposition of US tariffs on Chinese goods, Beijing responded with calculated countermeasures, focusing on a more restrained approach compared to previous trade disputes. China implemented tariffs on a smaller value of US products, while employing other tactics such as antitrust investigations and export controls. This measured response reflects China's economic vulnerabilities and the desire to avoid a full-blown trade war.
The first volleys in the latest US-China trade war made clear that Xi Jinping is taking a more cautious approach than during Donald Trump ’s first term.
China is being restrained because it “has more to lose,” due to its huge trade imbalance with the US, according to Larry Hu, head of China economics at Macquarie Group Ltd. Talks between the two leaders would offer a first glimpse of Trump’s priorities this time around. The US president has alternated tough talk on China with more dovish statements, laying out the potential contours of an agreement.
Chinese officials enter talks with less bargaining room. The Asian manufacturing powerhouse exports over three times more goods to the US than it buys, according to data from China’s Customs General Administration, meaning it has fewer goods to tariff.
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