China’s Vice Foreign Min Hua: Beijing has full confidence in ability to manage US trade issues

Chinese Vice Foreign Minister Hua Chunying said on Friday, “China has ‘full confidence’ in its ability to manage United States (US) trade issues.”

Additional quotes

• The US cannot ‘sustain what it is doing’ in trade policy.
• China does not want a ‘war of any kind with any other country’.
• China has ‘full capability to overcome difficulties’ amid trade war.
• ‘Ordinary people’ in China do not want trade war but are confident.
• On US trade talks, ‘if we have to face up to reality, come on. We have no fear.’

These comments come ahead of high-level trade talks between the US and China in Geneva, Switzerland, on Saturday.

Market reaction

The AUD/USD pair is sidelined near 0.6400, at the time of writing, modestly flat on the day.