Plans by Washington to hike tariffs on $200 billion of Chinese goods could cut C...
FILE PHOTO: A Chinese national flag flutters outside the headquarters of the People's Bank of China, the Chinese central bank, in Beijing, China April 3, 2014. REUTERS/Petar Kujundzic/File Photo
The comments by Ma Jun were published by the Finance News, a paper run by the central bank, on Friday as U.S. and Chinese officials undertake last-minute talks in Washington to avert an escalation of a trade war that threatens to derail the global economy. Ma said that China would impose corresponding counter measures should U.S. President Donald Trump move ahead with plans to increase duties on $200 billion of Chinese goods, to 25 percent from 10 percent.
The Chinese stock market was also unlikely to see the same heavy sell-off it experienced last year after the trade war began, he said, adding that investors had previously been prone to overreacting due to an inability to judge the real impact of trade frictions and jitters over slowing economic growth.
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