While Chinese Premier Li Qiang expressed confidence that his government could achieve economic recovery, he also dealt a clear blow to the United States and the EU on trade.

“The Chinese government is capable of achieving sustainable economic recovery,” Li said in his speech at the opening of the China International Import Expo in Shanghai on Tuesday.

He added that authorities have “ample room for fiscal policy and monetary policy” and reiterated that China will achieve its economic growth target of around 5%.

Li’s remarks on the economy underscore the Chinese government’s optimism that the country can achieve its expansion goal in the face of weak consumer confidence, deflationary pressures and real estate market woes. On Tuesday, a gauge of private services activity expanded at the fastest pace since July; This is a sign that consumer demand may be improving.

Investors are awaiting details of fiscal support after the Chinese government announced the strongest stimulus package since the outbreak. Measures announced in September, including interest rate cuts and efforts to stimulate real estate and stock markets, could help boost import demand.

Li also appeared to mock the trade policies of the United States and the European Union, citing “various acts of fraud” without going into details.

On Monday, China filed a complaint with the World Trade Organization over the EU’s tariffs on electric vehicle imports from China. The US has imposed its own EV tariffs, and Washington has also worked to cut off China’s access to advanced chip technology, citing military concerns.

Speaking after Li, Malaysian Prime Minister Anwar Ibrahim praised China for its trade in the face of “shady, condescending and unfair trade practices” of countries he did not name.

The Malaysian leader’s visit comes at a time when the Muslim-majority country is drawing closer to Beijing and Anwar has openly criticized the United States for its support for Israel. Last month, Malaysia, Indonesia, Vietnam and Thailand became partner countries of the BRICS bloc, which China and Russia hope will be a counterweight to the US-led West.

Li and Anwar’s remarks came just before Americans head to the polls, increasing the likelihood of Donald Trump being elected to a second term. Threatened to impose 60% tariffs on Chinese products; this move would almost certainly lead to retaliation from Beijing.

“His main message was that China is strong, the economy is growing, and all kinds of opportunities are available,” said Jerry Felton, CEO of Melaleuca Inc., an Idaho-based vitamin and supplement maker.

Felton, who attended the meeting, said that some CEOs also talked about the difficulties especially in the global economy.