China Takes Carrot-and-Stick Approach to U.S. Trade Tensions
- Beijing promises concessions on autos, but curbs sorghum
- Mnuchin says Trump has delivered a ‘warning shot’ on yuan
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China adopted a carrot and stick approach to the U.S. on Tuesday as the risk of a trade war between the two powerhouse economies continued to simmer.
At the same time that Beijing promised foreign car makers such as Ford Motor Co. greater freedom to compete in the world’s biggest market, it also slapped anti-dumping duties on imports of U.S. sorghum. The contrasting moves send a message to Washington: China is willing to open some areas of its economy, but will also respond to signs of rising U.S. protectionism.