China responds to Trump’s so-called 60% tariff

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On November 22, the State Council Information Office held a regular briefing on State Council policies. Wang Shouwen, international trade negotiator and vice minister of the Ministry of Commerce, and relevant officials from the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the People's Bank of China, and the General Administration of Customs introduced relevant policies and measures to promote stable growth of foreign trade and answered reporters' questions.

A reporter asked: "When Trump was running for President of the United States, he stated that he planned to impose 60% tariffs on China. How much impact do you think this will have on China's exports? What do you think of this phenomenon?"

In this regard, Wang Shouwen said: "China's economy has shown very strong resilience, with great potential and vitality. We are building a new development pattern with the domestic cycle as the main body and the domestic and international dual cycles reinforcing each other. We have the ability to resolve and resist The impact of external shocks.”

He believes that history has shown that when a country imposes tariffs on China, it does not solve the country's own trade deficit problem. On the contrary, it pushes up the price of the country's imported products from China and other countries. Because the final tariff is paid by consumers and end users in the importing country, it will inevitably lead to an increase in the price paid by consumers, an increase in user costs, and rising prices leading to inflation.

Wang Shouwen emphasized: "China and the United States are the two largest economies in the world, and the economies of the two countries are highly complementary. We believe that if China and the United States can maintain a stable, healthy, and sustainable development trend in economic and trade relations, , which is beneficial not only to the Chinese people, the American people, but also to all countries in the world People, this is also the expectation of the international community. We are willing to engage in active dialogue with the United States, expand areas of cooperation, manage differences, and promote the stability and development of bilateral economic and trade relations based on the principles of mutual respect, peaceful coexistence, and win-win cooperation. We will firmly safeguard our sovereignty, security and development interests.”