On April 28, Chinese authorities said that the country’s economy would easily cope with the tariff war initiated by US President Donald Trump, and Chinese citizens would hardly feel a shortage of American goods.
Deputy Chairman of the National Development and Reform Commission of China Zhao Chenxing emphasized that domestic production of agricultural and energy products, as well as imports from other countries, would fully satisfy demand within China.
“Even if we do not purchase feed grain and oilseeds from the US, this will not greatly affect grain supplies to our country,” Reuters quotes Zhao as saying.
As the Financial Times notes, the loss of the Chinese market will be a heavy blow to US farmers, whose agricultural exports to China in 2023 amounted to $33 billion. In addition, the US supplied China with oil, gas and coal worth about $15 billion.
In early April, the Trump administration imposed tariffs of 145 percent on Chinese goods. China responded by imposing 125 percent tariffs on American products, but in late April
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