The CCP seems to be in a reactionary, defensive, and submissive posture as it relates to the Trump administration moves against it. The strategy seems to be to wait out the election and only respond reciprocally, the latest being the Chengdu embassy. One thing that occurs to me is that a move down in global markets could be seen as a way to hurt Trump, and this is certainly within the CCP's abilities. Though, cutting off USD inflows to China would sting particularly right now.

Interested in the group's thoughts about how the CCP is contemplating its stance here.