Tariff hikes will backfire, and China can manage such 'external shocks,' a senior official says
Briefly

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"Higher tariffs on Chinese exports will backfire, just increasing prices paid by consumers, while China can manage to weather the impact of such external shocks...Vice Commerce Minister Wang Shouwen said that would 'not solve the country's own trade deficit problem.'"
"China is willing to talk with the U.S. on a basis of mutual respect, for the benefit of both countries...if China and the U.S. can maintain a stable, healthy, and sustainable development trend in economic and trade relations, it will be beneficial (to everyone)."
Read at www.independent.co.uk
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