Full dragon, no panda mask.  Beijing begins using war terminology to discuss the trade conflict with the United States.

Through a series of cumulative trade tariffs, President Trump has now placed Chinese imports into the USA in a position of 104% tariffs.

104%!

In response Beijing has devalued their currency and dumped treasuries, but no amount of subsidy, devaluation or use of their sovereign wealth fund is going to compensate for 104% taxes on Chinese products.  Very soon all purchase orders from the USA for Chinese manufactured products will stop.

The Beijing dragon is looking at the future through a zero-sum position.  Now, they vow to fight to the death.

BEIJING, April 9 (Xinhua) — With firm will and abundant means, China will resolutely take countermeasures and fight till the end if the United States insists on further escalating economic and trade restrictive measures, China’s Ministry of Commerce said Wednesday.

“I want to emphasize that there is no winner in a trade war, and China does not want a trade war, but the Chinese government will by no means sit by when the legitimate rights and interests of its people are being hurt and deprived,” said an official with the ministry.

The official made the remarks when responding to media questions regarding a white paper released Wednesday by the State Council Information Office on China’s position on some issues concerning China-U.S. economic and trade relations.

Noting that the successes of China and the United States are opportunities rather than threats for each other, the official said that China hopes the United States will immediately remove its unilateral imposition of tariffs, and work with China to strengthen dialogue, manage differences, and promote cooperation.

China is willing to communicate with the U.S. side on key bilateral economic and trade issues, address their respective concerns through dialogue and consultations on an equal footing, and jointly advance the steady, healthy and sustainable development of China-U.S. economic and trade relations, the official noted. (more)