China Vows Resilience as US Tariff Threat Looms

Higher tariffs on Chinese exports are predicted to backfire by increasing consumer prices, while China remains resilient against such external shocks. Officials express willingness to negotiate with the US, emphasizing mutual economic benefits. China continues to promote trade expansion and tackle challenges such as local government debts and youth unemployment.

In a stern response to the anticipated US tariff hikes, a senior Chinese official has warned of backfiring effects that will ultimately burden American consumers with higher prices, while touting China's resilience to such external pressures.

Vice Commerce Minister Wang Shouwen criticized the proposed 60% tariffs by the incoming administration of President-elect Donald Trump, suggesting they would exacerbate the US trade deficit and elevate import costs not just from China but other nations too.

At a news conference in Beijing, Wang emphasized China's readiness to engage in respectful discussions with the US, aiming for stable and mutually beneficial trade dynamics. He highlighted China's ongoing efforts to streamline trade processes and encourage foreign visits, despite challenges like local debts and youth joblessness.

(With inputs from agencies.)