Beijing is confident of hitting its 5% economic growth target this year despite the U.S. and China imposing hefty levies on each other’s exports.

President Donald Trump’s tariff onslaught has roiled Washington and Wall Street for nearly a month. If the trade war persists, the next upheaval will hit much closer to home.

Chinese policymakers on Monday sought to assuage concerns the broad U.S. tariffs could derail efforts to shore up a fragile economic recovery, even as analysts warn the hefty levies raise the risk of a sharp downturn in growth.