“The sky won’t fall,” the spokesman of China’s customs authority said this week, referring to President Trump’s trade war in China, just as the authority reported an over 12% jump in exports for March. China is preparing to respond to the tariffs—by going gray in trade. The New York Times reported this week that there is a growing fear in Europe that China may start redirecting its cheap, subsidized products to European markets in response to U.S. tariffs. Examples included electric cars, steel—which Europe…
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