ERBIL, Kurdistan Region - A Chinese financial researcher told Rudaw that Beijing is prepared with countermeasures in place to respond to the new tariffs imposed by US President Donald Trump.
“I think the Chinese government's counterattack is very rational, which means we have announced a very rational and stable policy. No matter what kind of tariffs the United States imposes on us, we will follow and counterattack,” Jiang Helin researcher at Chinese Financial Services Group, told Rudaw on Friday.
China has pushed back against Trump’s sweeping 104 percent tariffs by raising its duties on American imports to more than 80 percent.
“However, we can see that the Chinese government's counterattack policy was introduced in just one day. It can be seen that the Chinese government is very well prepared. This is not a task that can be organized in a short time, and it involves multiple departments' counterattack policies,” Helin added.
He emphasized the “serious recession” the United States could face if it moves forward with its tariff agenda, highlighting that the more than $600 billion trade volume between the two countries could leave US stores and markets empty.
“We never launch a tariff war, but in fact, China is not afraid of anything. China's product exports are very competitive worldwide,” he accordingly said.
On Wednesday, Chinese foreign ministry spokesperson Gao Zhikang told Rudaw that “trade and tariff wars have no winners,” condemning Trump’s tariffs and saying they “seriously violate the rules of the World Trade Organization and severely damage the multilateral trading system.”
