People’s Bank of China (PBOC) Governor Pan Gongsheng said on Thursday, “there are no winners in trade wars and tariff wars.”
Additional quotes
- Unilateralism and protectionism have no way out and are not in the interests of anyone.
- China will adhere to opening up.
- China firmly supports free trade rules and the multilateral trading system.
- China will promote inclusive economic globalization, maintain global economic and financial stability.
Market reaction
As of writing, AUD/USD is holding lower ground near 0.6350, down 0.15% on the day.
