0313 GMT - Chinese policymakers have imposed a more coordinated and comprehensive approach on U.S. tariffs compared to the 2018-2019 U.S.-China trade war, Goldman Sachs analysts write in a note. Trump said in a recent press conference that future tariff increases would depend on how China manages the CNY and what steps China takes in response, they say, noting that the USD/CNY fixing was set even lower following the statements about additional U.S. tariffs. Still, GS says the Chinese government may rely less on retaliatory tariffs and FX depreciation. Instead, Beijing may rely more on export controls and even geopolitical levers to retaliate this time, compared with the 2018 situation, GS adds. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

March 04, 2025 22:13 ET (03:13 GMT)

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