(qlmbusinessnews.com . Wed 22nd Jan, 2025) London, UK —
China Urges Collaborative Solution Amid Renewed Trade Tension Threats
China has called for a “win-win” resolution to trade tensions as concerns grow over potential protectionist measures under Donald Trump’s return to the White House. Speaking at the World Economic Forum in Davos, Vice Premier Ding Xuexiang emphasised the importance of mutual cooperation and global trade.
While refraining from directly naming the United States, Ding highlighted China’s willingness to expand imports and reduce restrictions on foreign investment. He stated, “Trade wars have no winners. Protectionism leads nowhere.”
During his presidential campaign, Trump signalled a possible return to tariffs on Chinese goods, with proposals reaching as high as 60%. Although no immediate actions were taken on his first day in office, his administration is expected to re-evaluate trade policies.
Trade tensions between the two economic superpowers have simmered since 2018 when Trump first imposed a series of escalating tariffs on Chinese goods. These measures, aimed at reducing the US trade deficit with China, prompted a prolonged stand-off that only eased with a 2020 agreement. That deal saw the US reduce some tariffs in exchange for China committing to increased purchases of American products, particularly in agriculture. However, US officials argue that China has fallen short of fulfilling these obligations.
Treasury Secretary Scott Bessent recently hinted at enforcing the terms of the 2020 deal, suggesting the possibility of “catch-up” purchases. Meanwhile, Trump has reiterated concerns over the trade imbalance, where China exports significantly more to the US than it imports.
In his Davos speech, Ding stressed China’s efforts to boost domestic consumption and balanced trade. “We want to import more competitive, quality products and services,” he noted, calling for a collaborative approach to globalisation.
The International Monetary Fund (IMF) has warned that further trade tensions could disrupt global supply chains, reduce investments, and exacerbate economic uncertainty. Amid these challenges, Ding expressed optimism, stating, “I believe we have the wisdom and capability to achieve a win-win solution.”
This News Story is brought to you by QLM Business News, your Digital Media Channel
Visit QLM businessnews.com
For more business news stories also follow us on Facebook, X and Youtube.
To Help qlm business news bring you more new stories like this, please like, share and subscribe.
Unlock unparalleled business growth and effortlessly attract a stream of new customers through QLM Business News Sponsored Advertising. Elevate your brand's presence and captivate your target audience with precision. Visit QLMbusinessnews.com and click on “Advertise” to harness the power of strategic advertising. Don't miss this unparalleled opportunity to propel your business to new heights of success!
Disclaimer: All images presented herein are intended solely for illustrative purposes and may not accurately depict the true likeness of the subjects, objects, or individuals referenced in the accompanying news stories.
