China’s Finance Vice-Minister Zhu Guangyao acknowledged that Donald Trump’s policy could trigger trade wars between two countries, TASS reported.
In the event of a trade war, China will have to take retaliatory measures that could cause job losses in the United States. “China hopes it does not happen, because it would do more harm than good for both countries”, the official said.
In his opinion, trade wars, if any, will not exceed one year. Guangyao added that he hopes to strengthen cooperation between two countries that was “steadily growing” since Richard Nixon's visit to the mainland China in 1972.
Trump has repeatedly stated that the US should impose special tariffs on imported goods from China. In his opinion, it would force China to increase the yuan. Also Trump repeatedly called Beijing an economic enemy of the US due to China's monetary policy.
The inauguration of Donald Trump will take place on January 20, 2017. He will replace Barack Obama in the White House.
