On August 7, 2019, the Academy of Macroeconomic Research (AMR) of National Development and Reform Commission held a seminar on “Developing Unshakable Confidence to Respond to the Extreme Pressure Imposed by the US”. Hosted by Chen Dongqi, chief expert of the AMR, the seminar invited a total of 10 prestigious experts from the Development Research Center of the State Council, National School of Development at Peking University, China Academy of Fiscal Sciences and our Academy to conduct discussions and voice opinions on the reports that the US will impose 10% tariffs on $300 billion worth of Chinese goods and products and that the US Treasury Department announced that China is a currency manipulator. The seminar was covered by more than 40 journalists from CCTV, China National Radio, People's Daily, Economic Daily, Guangming Daily and Xinhua News Agency.
It is agreed among the experts that such disgusting conduct of the US is harmful not only to others but also to itself. The US tariff stick shall never stop China’s progress. The Chinese side must take resolute countermeasures against the US wrongful conduct. The Chinese side is reluctant, but unafraid to fight and will fight when necessary. If the US side is willing to continue with the negotiation, the Chinese side is willing to seek to advance, on the basis of equality and good faith, the Sino-US ties in the underlying principle of coordination, cooperation and stability through dialogue and negotiation. Meanwhile, in face of the Sino-US trade frictions, it is crucial to do a good in managing our own affairs, to pursue stable economic growth to cope with the change of the US, and to respond to the extreme pressure imposed by the US with even stronger resilience in development.