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China to seek closer Russia ties as US eyes more tariffs

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U.S. tariffs on Chinese goods are going to lead to a “substantial improvement” between China and its neighbor Russia, the former People’s Bank of China (PBOC) Governor Zhou Xiaochuan told CNBC Tuesday.

“From the economy’s (point of view) and the financial sector’s (perspective), we would like to have a normal relationship with the U.S.,” he told CNBC’s Geoff Cutmore at the Eastern Economic Forum (EEF) in Vladivostok, Russia.

However, he added that a massive package of U.S. tariffs on Chinese imports, instigated by President Donald Trump, has made China “look at other markets and to diversify our trade and business relationships.”

CNBC

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Craig Erlam

Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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