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China’s foreign minister, Wang Yi, criticized US President Donald Trump as “two-faced” amidst escalating trade tensions, with official data revealing a deceleration in the country’s export growth and a contraction in imports during the first two months of 2025.
Data released by China’s customs administration showed a 2.3% increase in exports in dollar terms in January and February compared to the same period last year, while imports declined by 8.4%.
These figures, combining data for two months due to the lunar new year holiday, marked a significant drop from the 10.7% export growth in December and a 1% expansion in imports.
Economists polled by Reuters had anticipated 5% export growth and a 1% increase in imports, making the actual figures fall short of expectations.
Wang stated that Trump’s amicable attitude towards Xi Jinping would not offset the worsening trade relations. He emphasized the detrimental impact of such behavior on bilateral relations and mutual trust.
The Trump administration has imposed a 20% tariff on all Chinese imports, with an initial 10% levy effective from February 4 and a subsequent 10% from Tuesday.
China retaliated by targeting US agricultural and energy exports, in addition to implementing export controls and security measures on American companies.
Export growth had previously aided Beijing in overcoming economic challenges, but trade disruptions now pose a threat to Chinese policymakers’ efforts to sustain growth amidst a property sector slowdown and weak domestic demand.
Exports to the US increased by 2.3% in the first two months of the year, as Chinese companies rushed to ship goods before the full impact of additional tariffs took hold.
Looking ahead, the tech sector in China is thriving, but weak domestic demand persists due to the ongoing property sector downturn.
China’s Premier, Li Qiang, set a GDP growth target of around 5% for 2025 at the National People’s Congress meeting in Beijing, emphasizing increased fiscal spending to achieve this goal.
He expressed optimism in Europe as a reliable partner and highlighted the potential for EU-China cooperation amidst challenges in traditional trading relationships.
China’s imports from the EU declined by 5.6% year-on-year, while exports rose by 0.6% in the first two months of 2025.
Amidst these developments, calls for reassessing relations and collaborating for global economic growth and security have emerged.