Markets whipsawed further Friday in response to President Donald Trump’s latest comments on tariffs, with stocks briefly turning higher after he hinted that there may be “flexibility” in his plan to impose blanket tariffs on most U.

Experts on global trade have big doubts about the Trump administration’s plan for widespread reciprocal tariffs, as well as the rhetoric in support of it.

Chinese Premier Li Qiang said the country is prepared for “shocks that exceed expectations” as the world braces for US President Donald Trump to announce more tariffs on its trading partners next month.

China announced that it was prepared for any unforeseen economic shocks as Trump’s tariff threats persisted. Premier Li told business leaders that China would choose the ‘correct path’ of globalisation and multilateralism despite rising uncertainty and instability.

Chinese Premier Li Qiang urged countries to open their markets to combat “rising instability and uncertainty” at a business forum in Beijing on Sunday, as China braces for further U.S. tariffs.