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Beijing will retaliate if Trump sets 60% tariff: Ex-PBOC official
The Straits Times
|November 17, 2024
China will fight back if US President-elect Donald Trump follows through on his promise to impose a 60 per cent tariff on Chinese imports, according to Dr Zhu Min, a former top official at the Chinese central bank.
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"If Trump and the administration really levy a 60 per cent tariff on China, I think China will retaliate" and bring the case to the World Trade Organisation, said Dr Zhu, a former deputy governor at the People's Bank of China, or PBOC, in an interview on Bloomberg Television on Nov 15. "There are many things they can do."
He did not specify the potential retaliation measures. But he said the tariffs would impact the Chinese currency, which, he said, is determined by market forces such as trade and capital flows. The tariffs will also affect China's demand for US Treasuries, he added.
Esta historia es de la edición November 17, 2024 de The Straits Times.
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