BEIJING (AP) — Exporters scrambled to replace lost orders after U.S. President Donald Trump raised tariffs in July on $50 billion of Chinese imports. Waves of job losses loom over factory towns. But Chinese leaders expressed confidence in their $12 trillion-a-year economy and refused to budge on tactics they see as a path to prosperity and global influence.
Economists, political analysts and business groups say China's leaders appear no more likely to back down after Trump approved penalties Monday on $200 billion more of Chinese goods.
The chairman of the American Chamber of Commerce in China, William Zarit, said Tuesday in a statement, "Contrary to views in Washington, China can — and will — dig its heels in and we are not optimistic about the prospect for a resolution in the short term."