China’s low-key response to last week’s tariff announcement by President Trump reflects in part a desire not to exacerbate tensions further. But Chinese officials will also be aware that, while they have a number of options for retaliation, restrictions on imports from the US would have costs in China too. The limits on soybean imports that some have been threatening are a case in point: there simply aren’t enough soybeans in the world outside the US to meet China’s needs.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.