U.S. tariffs will drive China to further boost domestic demand and innovation, said a Chinese expert on the sidelines of the ongoing "two sessions" in Beijing.
China will impose additional tariffs on a range of U.S. imports starting March 10, the Customs Tariff Commission of the State Council announced Tuesday.
An additional 15-percent tariff will be imposed on imported chicken, wheat, corn and cotton originating from the United States while sorghum, soybeans, pork, beef, aquatic products, fruits, vegetables and dairy products will be subject to an additional 10-percent tariff, according to the commission's statement.
The move follows U.S. President Donald Trump's order to increase tariffs on Chinese imports to a uniform 20 percent, effective from March 4, from a previous range of 10 to 25 percent during his first term.
During an interview with the China Global Television Network on Thursday, Tian Xuan, a deputy to the 14th National People's Congress (NPC), China's national legislature, and dean of the National Institute of Financial Research of Qinghua University, emphasized the potential for positive outcomes, when commenting on the U.S. tariff hikes.
"The tariffs issued by Trump just increased from 10 percent to 20 percent. It will force us to be more independent, to, sort of, increase our domestic demand to hedge against these external uncertainties or to hedge against the plausible reduction in exports. Another thing is that it also forces us to focus more on technological innovation to get around this 'small yard, high fence' strategy imposed by the U.S.," said Tian.
"The good news is that we have DeepSeek. It's an outcome of good competition, and it's open sourced. So I think this is a very good example of how we can be more independent. We can create our own innovation," he added.
The NPC deputy also pointed to the tariffs as an opportunity to strengthen international ties.
"It also forces us to increase our friendship with other countries or collaboration with other countries, like emerging economies, like Southeast Asian countries, African countries or Middle East countries. It can also help us to increase our technological collaboration, trade collaboration with EU countries," he said.
The Customs Tariff Commission has criticized Trump's newly erected trade barriers, stating that the unilateral imposition of tariffs by the United States undermines the multilateral trading system, increases the burden on American businesses and consumers, and erodes the foundation of China-U.S. economic and trade cooperation.
As the biggest annual gathering on China's political calendar, the "two sessions" refer to the annual sessions of the NPC, and the National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top political advisory body.
Tariffs to boost China's determination in building domestic demand: Chinese expert
