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.

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.

Fears of pandemic-era shortages at American stores have made a big comeback as shipping-container traffic between China and the U.S. plunged in the wake of President Trump’s tariffs.