The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation.
Two officials at leading Communist Party bodies have given interviews in recent days warning - for the first time - that Beijing may use its $1.33 trillion (£658bn) of foreign reserves as a political weapon to counter pressure from the US Congress.
Saber rattling to be sure. Since we are a huge market for China, it's not clear that they would take steps that would adversely affect their own economy. China seems nothing if not pragmatic of late. Still, this news increases uncertainty all around.