China announced its readiness for economic shocks due to upcoming U.S. tariffs and continues to pursue globalization and multilateralism.
Premier Li Qiang's Statements
Premier Li Qiang announced on March 23 that China is prepared for unexpected economic shocks as the U.S. prepares additional levies on Chinese imports starting April 2. He noted that uncertainty and instability are increasing, despite China's commitment to multilateralism and globalization.
China's Countermeasures
In response to the 20% tariffs imposed by the U.S. on Chinese goods, China introduced retaliatory tariffs on $22 billion of U.S. goods, including agricultural exports, targeting President Trump's rural base.
Talks with U.S. Senator
Senator Steve Daines, a close Trump ally, met with Vice Premier He Lifeng to reiterate demands to halt chemical flows used for fentanyl. Daines is expected to meet Premier Li and attend the Beijing forum, hoping to facilitate a meeting with Xi on behalf of President Trump.
China remains ready for economic challenges due to U.S. tariffs, upholding a commitment to multilateralism, hoping for a diplomatic resolution.
