China’s Vice Foreign Minister, Hua Chunying, has boosted that the country has full confidence in its ability to manage trade issues with the United States of America.
While speaking with the press, he said, “We have no fear,” adding that the trade policy of the U.S. administration can not be sustained.
Recall that officials from both sides are set to meet in Switzerland to discuss the tariffs they have imposed on each other.
The weekend talks involving the top U.S. and Chinese economic and trade officials are widely seen as a first step towards resolving a trade war that has disrupted the global economy.
President Donald Trump had said on Thursday that the tariffs of the U.S. on Beijing of 145 per cent would likely come down.
“We have full confidence,” Hua said during a Beijing-organised trip to Malipo county to showcase China’s efforts to build up rural economies.
“We do not want any kind of war with any country. But we have to face up to reality. As you can see, people have full confidence in our capability to overcome all the difficulties.”
Trump’s tariffs on many of the United States’ trading partners, including China, are increasingly weighing on a world economy which for decades, had benefited from predictable and relatively free trade.
Many economists are calling the Trump tariffs a demand shock to the world economy, which, by making imports more expensive for American businesses and consumers, will sap activity elsewhere
“What the United States is doing cannot be sustained as ordinary people in the U.S. are already feeling suffering from the tariff war.
“The U.S. administration will come back to normal,” she added.
