Chinese Premier Li Qiang has expressed China’s preparedness to deal with uncertainty.
Premier Li, according to Walter Bloomberg, stated this through the state media China Central Television, CCTV.
“We are prepared to deal with uncertainty,” he said.
Earlier, China announced that it would increase additional tariffs on U.S. imports from 34% to 84%.
It also stated that it would file a complaint with the World Trade Organization, WTO, regarding the US 50% tariff imposition.
Media Talk Africa reports that China’s Central Bank has said it will not allow a significant decline of the yuan even as the apex bank urged major state-owned banks to scale back US dollar purchases.
Major banks were also told to step up checks when executing dollar purchase orders for clients, in a move markets view as a way for the central bank to curb speculative trades.
The order from the central bank comes as the yuan faces heavy downward pressure amid aggressive tariffs on Chinese goods exported to the US
The Chinese Ministry of Foreign Affairs on Wednesday said that China will take resolute and strong measures in response to the US President Donald Trump’s latest 104% tariffs on imports from China.
Lin Jian, the Ministry spokesperson, insisted that the Chinese government will continue to safeguard the legitimate rights and interests of the people of China.
The White House on Tuesday said US President Donald Trump’s tariffs on imports from China are set to rise overnight to 104% as Beijing refuses to withdraw its retaliatory tariffs on United States exports.
