China: We don't care about losing the US market, says Victor Gao.

Adding from later this afternoon find: 

US could raise stakes in trade spat with China ahead of Xi-Trump meeting

The US is considering requiring companies exporting software to China to obtain a license — a move that could severely hurt Chinese industries, according to the Financial Times. 

👉The measure may be implemented if the two sides fail to resolve their differences. Meanwhile, Chairman Xi Jinping and President Donald Trump are expected to meet in South Korea later this month.

Earlier, Trump threatened China with 100% tariffs, citing Beijing’s decision to expand export controls on rare earth materials, that may take effect in November.

💬"I want to emphasize that China's export controls are not export bans. All applications of compliant export for civil use can get approval, so that relevant businesses have no need to worry,"  a spokesperson from the Chinese Ministry of Commerce (MOFCOM) said on Sunday.

China's move came after a provocative initiative by US lawmakers to impose broader bans — by Washington and its allies — on exporting chipmaking equipment to China. The proposed US restrictions also include tighter controls on components that could help China develop its own semiconductor manufacturing tools.

from Sputnik