John Vail on Forbes.com*:

Minor China Retaliation Helps Risk Markets; The Role Of Commodities And Electric Cars
https://www.forbes.com/sites/johnfvail/2018/07/12/minor-china-retaliation-helps-risk-markets-the-role-of-commodities-and-electric-cars

It seems that China does not wish to compromise with the U.S., but neither does it wish to retaliate strongly to the $200BB of additional tariffs. Since it does not wish to “lose face” in giving this light response, it is putting a positive spin on its actions by saying it wishes to be the leader of the free trade movement. — Read more

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