With Beijing already becoming a top target in the U.S. election campaign, President Xi Jinping’s government is resisting any move that could backfire on the world’s second-largest economy.
China’s restraint was on display last week after U.S. President Joe Biden blasted Beijing as "xenophobic” and vowed to triple tariffs on Chinese steel and aluminum exports, during a campaign stop in a swing state where rust-belt jobs are on the line.
On the same day, Washington opened a probe into its rival’s shipbuilding sector, causing stocks of Chinese firms in that industry to tumble. Congress also fast-tracked efforts to force TikTok to divest from its Chinese parent ByteDance, by bundling the decision into an aid bill that passed Saturday.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.