CHINESE officials have played down the threat to their country’s economy from US President Donald Trump’s trade tariffs, saying today that Beijing has the capacity to protect jobs and limit the potential damage.

They also reiterated Beijing’s refusal to be intimidated by Washington’s aggressive attitude, with Zhao Chenxin, deputy director of the National Development and Reform Commission, the main economic planning agency, condemning US officials who “make up bargaining chips out of thin air, bully and go back on their words."

After placing combined tariffs of up to 145 per cent on goods imported from China, Mr Trump said last week that he was already negotiating with the Chinese government over the tariffs, but US Treasury Secretary Scott Bessent admitted that such talks had yet to start.

Beijing has confirmed that no negotiations are under way and retaliated against Mr Trump’s tariffs by slapping import duties of 125 per cent on products from the US, as well as taking other measures.

Although the International Monetary Fund has downgraded its estimate for Chinese growth this year to about 4 per cent, officials believe the economy could expand at the target rate of about 5 per cent, in line with growth in 2024.

Vice-Minister for Human Resources and Social Security Yu Jiadong told reporters in Beijing that China’s “employment policy toolbox is sufficient.”

The government will step up support for companies to help safeguard jobs and encourage entrepreneurship among the unemployed, he said.

China also can manage without energy imports from the US, said Mr Zhao.

Beijing has been gradually cutting imports of US grains — mostly livestock feed — and other farm products, but Mr Zhao said that the international market has sufficient stocks to protect the food supply.

People’s Bank of China deputy governor Zou Lan said that the central bank would cut interest rates and relax reserve requirements as needed to encourage lending.