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CHINA PRESS
CHINA PRESS: The U.S. is opening fire not only on targeted countries, but also
on itself, said Financial News, citing Guo Shuqing, chairman of the China
Banking and Insurance Regulatory Commission, as $340 billion in tariffs are set
to take effect. China's foreign trade does not fully rely on one country; if the
list takes effect on July 6th, the tariffs will hit both Chinese enterprises and
foreign enterprises, including American ones, Guo stressed. The escalating trade
tensions will not result in further depreciation of the yuan as the Chinese
economy has strong fundamentals, Guo noted. China will continue along current
trends and continue to reform and further open up, Guo promised.