The White House Watch newsletter offers insight into the 2024 US election’s implications for Washington and the global community.
China recently announced its readiness for any unforeseen challenges ahead of the anticipated US tariff increases targeting the nation, which stands as the world’s second-largest economy. Premier Li Qiang, speaking to foreign business leaders in Beijing, highlighted the growing uncertainty and instability, emphasizing China’s commitment to globalisation and multilateralism.
Li mentioned that China is prepared for potential external shocks. The US is set to introduce additional tariffs on Chinese imports on April 2, as part of its plan to implement “reciprocal tariffs” globally. This statement from the Chinese premier coincides with Beijing’s efforts to boost consumer and investor confidence while preparing retaliatory measures against future US sanctions.
Since taking office, President Trump has imposed 20 percent tariffs on Chinese goods, aiming to pressure Beijing to act against companies producing fentanyl ingredients, a drug behind a major crisis in the US.
These developments occur as countries and businesses anticipate the impact of reciprocal tariffs, with expectations that Trump will not grant exemptions before the deadline. Few high-level discussions have transpired between the US and China since Trump assumed office, aside from a single phone call between him and President Xi Jinping.
Last week, Trump mentioned a possible visit from Xi to the US in the “not too distant future,” but sources close to the negotiations indicated no formal discussions about such a trip had taken place. Later, Li is slated to meet with Steve Daines, a Republican senator from Montana and a Trump ally, who previously engaged with Vice Premier He Lifeng. Daines’ office reported that he reiterated Trump’s call for China to stop the chemical flow used in fentanyl production and expressed hope for further high-level dialogue between the two nations.
