China hits back at up to $60 billion in U.S. tariffs with only with $3 billion of its own

Timothy Stratford is quoted in a CNBC article regarding China's response to U.S. tariffs on Chinese imports. "They want to show that they have taken note of U.S. actions and are going to be strongly resisting, but they don't want to be seen as escalating things further," says Stratford. "The Chinese recognize that everyone has a lot to learn if the U.S. and China move into a trade war." He also warns, "We're entering a dark tunnel. At the end of the day, back and forth penalties don't solve the underlying problems."