Ryan Petersen said a lot of what Americans buy from China is "discretionary spend" — optional items that can be replaced if they become expensive.

Thanks for reading Hyperdrive, Bloomberg’s newsletter on the future of the auto world. As the global car industry descended on Shanghai last week for China’s premier auto show, attendees of an event organized by electric-car maker Zeekr took in sweeping views of the city’s skyline from the rooftop of the landmark Peace Hotel.

By Kevin Yao BEIJING (Reuters) -Chinese policymakers on Monday sought to assuage concerns the broad U.S. tariffs could derail efforts to shore up a fragile economic recovery, even as analysts warn the hefty levies raise the risk of a sharp downturn in growth.