China says it has ‘tools’ to offset economic turbulence

China’s number two leader said on Tuesday that the country has the “tools” necessary to weather economic headwinds, after blanket tariffs imposed by the United States, Beijing’s biggest trading partner.

“China’s macroeconomic policy this year takes full account of various uncertainties and has a sufficient reserve of policy tools,” Premier Li Qiang told European Commission President Ursula von der Leyen during a phone call, according to state news agency Xinhua. “China can fully hedge against adverse external effects, and is fully confident of maintaining sustained and healthy economic development.”