Chinese leaders are reducing the potential impact of US President Donald Trump’s trade war, saying they have the ability to protect their jobs and limit damage to higher tariffs on Chinese exports.
On Monday, several senior officials of various government ministries came to the briefing of the United States to tackle the impact of up to 145% of the United States import from China to the US imports to increase their confidence with the promise of unemployed, simple NDing conditions and other policies.
It was followed by a meeting of China’s strong Politburo last week that analysts said that the export was focused on ways to resist the way to maintain growth despite the slowdown.
“Chinese policymakers are in more standby mode,” said Louis Lu AA, a leading economist at Oxford Economics. He mentioned that the principles were the same as the previous declaration.
The status of the exchanges between the White House and the Chinese leader Xi Jinping, if any, is unclear.
Trump said last week that he was actively negotiating with the Chinese government on tariffs – when US Treasury Secretary Scott Besent said that the discussion had not yet begun.
Beijing has denied that any such discussion is underway, and China has retaliated against Trump’s tariff by keeping 125% import duty on US products among other measures.
Officials who spoke on Monday rejected what Chinese leaders called Bully.
“They come back to thin air, bulls and their words and return to their words, which lets everyone look more clearly, it is the so -called ‘mutual tariff’ historical tendency and affects economic law and international trade rules,” said Jahnin, “Zahin Channak,” Jahn.
Trade wars between the two largest economies in the world are likely to bring a downturn in the United States, reacts around the world. China is fighting to recharge its own growth after the loss of jobs and other pandemic.
Economists of International Monetary Fund and some investment houses have downgrade about 4%of their estimates to grow China this year. A few million export -based jobs are at risk.
Nevertheless, Chinese officials say they believe that the economy is in line with growth in 2021, this year has a speed of about 5% of the target.
Human Resources and Social Protection -U Ziadong, told reporters in Beijing that a full and objective analysis showed that China’s “employment policy equipment was sufficient.”
The U said the government will increase its support for the companies to help them keep their workers and to encourage entrepreneurs among the unemployed.
China can also handle fuel without imports from the United States, NDRC Deputy Director Zhao said.
“Initiatives to reduce or even stop fuel from the United States will not have any effect on our country’s fuel supply,” he said.
China is slowly cutting the import of US grain and other farm products and Zhao said that this national purchase will not compromise with the supply of food. He said most crop purchases were for livestock feeds and there was enough stock to reduce maize, force, soy and oil import from American suppliers in the international market, he said.
Jou Lan, a deputy governor of the central bank, said the People’s Bank of China will reduce interest rates and relax the reserve requirements to encourage nding.
“Timely enhanced policies will be launched to help stabilize employment, initiatives, markets and expectations,” Ju said.
Zhao said that China could increase domestic demand through various policies, including exemption for old vehicles, equipment and factory equipment, said Zhao that the forecasting equipment upgraded demand would exceed 1 trillion yuan ($ 1.5 billion) in one year.
In the long run, China is also promoting to transfer more people from rural areas to cities, Zhao said.
“Raise 1 percent of urbanization rates can encourage trillion investment demand,” he said. “We have very real possibilities and places to increase domestic demand in our country.”
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AP video producer Borg Wang has contributed.
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