China's 'Two Sessions' opens Tuesday with focus on countermeasures against U.S. tariffs

Meanwhile in China.

The country is hosting its biggest annual political event against the backdrop of heightened trade tensions with the U.S. and a complex geopolitical landscape.

Lee Seung-jae touches upon the potential issues on the agenda at the latest "TWO SESSIONS".

On Tuesday, China begins its largest political event of the year with the annual plenary sessions of the National People's Congress and of the Chinese People's Political Consultative Conference,.. collectively known as the "Two Sessions."

Much of the discussion is expected to focus on countermeasures against Trump's tariff war.

On top of the 10 percent tariff U.S. President Donald Trump initially imposed on China, another 10 percent tariff was added on top, as the U.S. leader felt that not enough was being done to stop the flow of fentanyl into the United States.

This brings the combined tariff to 20 percent on Chinese imports since the start of the Trump administration.

According to China's foreign ministry spokesperson last Friday, Beijing will seek necessary measures to "firmly safeguard" its interests.

"The U.S. has once again threatened to impose additional tariffs on Chinese products exported to the United States under the pretext of the fentanyl issue. China is strongly dissatisfied and firmly opposed to this. We will take all necessary measures to firmly safeguard our legitimate interests. China has repeatedly stated that there are no winners in trade wars and tariff wars. The unilateral imposition of tariffs by the United States seriously violates WTO rules and harms the interests of both countries and the world."

According to experts, China could respond to Trump's tariffs, by targeting American agricultural products and food.

As China is a major importer of American agricultural products, such retaliatory measures would greatly affect American farmers and exporters alike.

With the Chinese People's Political Consultative Conference opening the 'Two Sessions' on Tuesday, the top political advisory body will first discuss countermeasures against the tariffs.

They're also set to discuss economic policies as the country sees an economic downturn.

During the 'Two Sessions' an economic growth target of around five percent is expected to be announced, and a policy of replacing old consumer goods with new ones will be further expanded to increase domestic demand.

A special national bond issuance is also expected to be used to stimulate the economy.

Meanwhile, the National People's Congress on Wednesday is expected to present China's national administration direction.

Lee Seung-jae, Arirang News.