Summary of today’s top items:
1. PRC response to the latest US tariffs – The PRC responded in multiple ways to the latest round of US tariffs, adding 10-15% tariffs to some US agricultural products, placing ten US firms on the unreliable entity list and fifteen on the export control list, banning Illumina from exporting gene sequencers to China, an anti-circumvention investigation into certain US fiber optic products, and suspending soybean imports from three US firms because they detected the presence of ergot and seed-coating agents. The government also issued the Controlling Fentanyl-Related Substances — China’s Contribution white paper. The response was relatively restrained, they could have done more damage with additional restrictions on some critical minerals for example, and the Foreign Ministry is:
Let me reiterate that intimidation does not scare us. Bullying does not work on us. Pressuring, coercion or threats are not the right way of dealing with China. Anyone using maximum…