Chinese media says U.S. has 'delusions', urges focus on domestic development

Cornelia Mascio
Giugno 22, 2018

President Trump won't allow China to prey on US technology any longer, White House National Trade Council Director Peter Navarro told FOX Business on Wednesday.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., June 19, 2018.

Gao's comments come two days after President Trump directed his top trade official to identify $200 billion more worth of Chinese goods that will be subject to tariffs, escalating the ongoing trade dispute.

The Dow, which counts Boeing Co, Apple Inc and Nike Inc among its constituents, ended down 0.17 percent on Wednesday.

"If Trump continues to escalate trade tensions with China, we can not rule out the possibility that China will strike back by adopting a hard-line approach targeting Dow Jones index giants", the Global Times said in a commentary. China answered that it would match the value of the US tariffs by placing their own tariffs on American perishable exports, including beef, poultry, pork, dairy products, seafood, tobacco and soybeans.

The Global Times, a widely read tabloid published by the ruling Communist Party's official People's Daily, said in an editorial China needed to be realistic about how it could handle the United States and look at other strategies.

"Beijing will further open up China's financial markets to the world, a move that may draw funds from USA stock markets as global investors increasingly add Chinese stocks to their portfolios", it said.

Chinese refiners, who usually order their USA oil cargoes three months in advance due to the distance for shipping the crude, have been cautious about booking American oil too far in advance-beyond September deliveries.

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