China released a white paper on US trade and economic relations on Wednesday.

Key takeaways

  • China will take countermeasures to safeguard rights, interests.
  • Firmly opposes unilateral, bullying restrictive measures.
  • Has always believed the essence of China, US economic, trade ties is mutually beneficial and win-win.
  • It is normal for China and the US to have differences and frictions in economic and trade cooperation.
  • The US will not solve its own problems by raising tariffs.
  • China is unwilling to fight a trade war, but the Chinese government will never sit idly by and watch the legitimate rights and interests of the Chinese people be damaged and deprived.
  • China has a firm will and abundant means, will resolutely counteract and fight to the end.

Market reaction

As of writing, AUD/USD is up 0.62% on the day, trading at 0.6000.

Source: Fxstreet