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.”
