Higher tariffs on Chinese exports will backfire, just increasing prices paid by consumers, while China can manage to weather the effects of such "external shocks," a senior Commerce Ministry official said Friday in Beijing.

Deputy commerce minister also warns of tariffs’ adverse effects on the country imposing them, while pointing to China’s economic ‘resilience’ in face of external shocks.

China is ready for dialogue with the United States. President-elect Donald Trump announced the introduction of high tariffs on Chinese products. According to experts, tariffs on Chinese imports might reduce the growth of the world's second-largest economy by one percentage point.

A senior Chinese official says higher tariffs on Chinese exports will backfire by boosting prices paid by consumers

A commerce official says that not only will U.S. tariff hikes backfire, but that China's economy would be able to weather the impact.

Higher tariffs on Chinese exports will backfire, just increasing prices paid by consumers, while China can manage to weather the impact of such "external shocks", a senior Commerce Ministry official said Friday in Beijing.