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China has stated its readiness for any “unexpected shocks” in the face of higher tariffs imposed by US President Donald Trump on the world’s second-largest economy and rival superpower.
Premier Li Qiang, overseeing the Chinese economy under leader Xi Jinping, addressed foreign business leaders in Beijing on Sunday, emphasizing that despite rising uncertainty and instability, China remains committed to the path of globalization and multilateralism.
“We have prepared for potential unexpected shocks, primarily from external sources,” Li remarked.
The US is set to introduce additional tariffs on imports from China on April 2, unveiling “reciprocal tariffs” affecting countries worldwide.
The cautious stance from the Chinese premier comes as Beijing works to boost consumer and investor confidence while also planning for possible retaliatory actions against future US tariffs and sanctions.
Since assuming office, Trump has already implemented 20% tariffs on goods from China, aiming to pressure Beijing to crack down on companies involved in the production of fentanyl, a synthetic opioid linked to a drug use epidemic in the US.
Li’s remarks coincide with global anticipation of the impact of reciprocal tariffs, with expectations that Trump will not grant waivers before the deadline.
Top-level dialogues between the US and China have been scarce since Trump’s inauguration, with only one phone call between the two presidents, Trump and Xi Jinping.
While Trump mentioned that Xi would visit the US in the near future, sources from Washington and Beijing indicated no discussions about such a visit.
Later on Sunday, Li is scheduled to meet with Steve Daines, a Republican senator from Montana with close ties to Trump. Daines, a former China-based businessman, recently met with vice premier He Lifeng, marking a rare encounter between a senior American lawmaker and a top Chinese official.
Daines utilized his meeting with He to reinforce Trump’s plea for China to curb the supply of chemicals used in fentanyl production. The senator expressed hope for further high-level US-China discussions in the coming days.