Quote of the Day: China Now Playing Hardball

All of the promising trade rhetoric coming from President Trump and company of late appears to have given Xi the green light to go for the jugular:  emphasis mine...

BANGKOK/SHANGHAI -- Beijing has doubled down on demands that may threaten to delay a preliminary trade agreement with the U.S. after a successful month of high-profile political events at home strengthened the leadership's resolve.

A military parade held Oct. 1 celebrating the 70th anniversary of the People's Republic ended without a hitch. The Communist Party of China last week wrapped up the fourth plenary session of the current Central Committee without incident.

These outcomes have emboldened Beijing to insist that the U.S. withdraw all tariffs levied since summer of last year before entering an agreement. U.S. President Donald Trump, meanwhile, expects to sign the first phase of a trade deal this month, creating a situation ripe for tensions to reignite.