China braces for worst as it becomes punching bag in U.S. election

With Beijing already becoming a top target in the U.S. election campaign, President Xi Jinping’s government is resisting any move that could backfire on the world’s second-largest economy.

China’s restraint was on display last week after U.S. President Joe Biden blasted Beijing as "xenophobic” and vowed to triple tariffs on Chinese steel and aluminum exports, during a campaign stop in a swing state where rust-belt jobs are on the line.

On the same day, Washington opened a probe into its rival’s shipbuilding sector, causing stocks of Chinese firms in that industry to tumble. Congress also fast-tracked efforts to force TikTok to divest from its Chinese parent ByteDance, by bundling the decision into an aid bill that passed Saturday.