A top official from the Shanghai Cooperation Organization (SCO) believes China has the resilience to ride out the current economic storm and warned that it's the American consumers who will ultimately bear the greatest burden of the tariffs imposed by the Trump administration.
Sohail Khan, deputy secretary general of SCO secretariat, who is currently in north China's Tianjin Municipality for a supporting event of the upcoming SCO Summit, which is set to be held in the city this autumn, gave his assessment of the tariff situation in an exclusive interview with the China Global Television Network (CGTN) on Wednesday.
The latest trade dispute erupted after U.S. President Donald Trump last week signed an executive order on so-called "reciprocal tariffs," imposing a 10-percent "minimum baseline tariff" before unveiling higher rates on certain trading partners.
The United States moved to increase tariffs on imports from China to 104 percent on Wednesday, which saw China respond by raising tariffs on American goods to 84 percent, prompting Trump to escalate further by imposing a 125-percent tariff on Chinese imports.
Despite the escalating tensions, Khan highlighted China's economic resilience, stating that nations worldwide, including those in the West, fully recognize the crucial importance of the Chinese market.
"China has a very strong economic resilience. It has a huge domestic market. Everybody in the West, including the United States, they think that the Chinese market cannot be ignored," Khan said.
Though concerns are rising amid the uncertainty, Khan believes the current trade challenges will prove to be temporary, but warned it is the U.S. consumers who will suffer the greatest consequences of the tariffs.
"That's why I'm saying that these whole headwinds which are coming for the time being, are not going to be long term. And probably because China has taken the countermeasures that is going to have some impact on the American economy also. So we let's see. The people of United States and are going to face the real burden of these tariffs," he said.
China's "economic resilience" will leave US consumers to bear brunt of tariffs: SCO official
The Iranian government is focusing on public concerns and maintaining stable supplies of essential goods amid recent protests, Iranian President Masoud Pezeshkian said in a televised interview on Sunday.
In the city of Karaj, northwest of the capital Tehran, daily life has largely continued as normal. A video filmed by a local resident on Sunday shows food stores open and grocery shelves fully stocked.
"This is the block near my home, and there are some food stores here. Daily life continues here. Last night we did not see many protests in Karaj. Right now the city is very safe. This is a grocery store close to my home. All the food is available; nothing is in shortage. Here are noodles and different types of beans. Here are dairy products, cheese, and yogurt. I also checked other grocery stores and didn't see any shortages. Everything is available," said local resident Ali Reza.
Iranian officials have described recent disturbances as acts orchestrated by the "enemy," including some carried out by well-trained and armed "terrorists." The incidents have caused casualties among security personnel and civilians, as well as property damage.
The Secretary of Iran's Supreme National Security Council Ali Larijani has directed authorities to severely punish the "terrorists."
Meanwhile, Iran's police chief Ahmad-Reza Radan said on Sunday that the police had raised alert levels and arrested several leaders of the troublemakers during the operations on Saturday.
President Pezeshkian noted in the interview that the normal demands of the Iranian people are reasonable and justified, but they must realize that triggering riots and carrying out terrorist acts are the enemy's attempts to undermine the country. He urged the public to remain vigilant.
Also on Sunday, Iranian Parliament Speaker Mohammad Baqer Qalibaf warned that Tehran would regard U.S. and Israeli bases and facilities in the Middle East as "legitimate targets" if Washington takes military action against Iran. His remarks followed media reports saying U.S. President Donald Trump is "seriously considering authorizing a strike" against Iran.
Iranian state media reported that at least 109 members of Iran's security forces have been killed in clashes since the protests began 14 days ago. Meanwhile, human rights groups based outside the country said the number of protesters killed has exceeded 200, though the figure could not be independently verified.
The protests initially erupted over a sharp depreciation of the rial and sweeping subsidy reforms. Iranian authorities have blamed the unrest on foreign-linked agents and sanctions imposed by the United States.
Iranian president says government focusing on ensuring supplies amid protests
