China's annual political meetings, known as the "Two Sessions", have commenced amid escalating trade tensions due to new US tariffs. Premier Li Qiang outlined a growth target of 5% for 2025, despite a challenging domestic and external environment. Highlighting the intense US-China competition, he warned of disruptions in the multilateral trading system. This meeting serves as a critical indicator of China's policy direction and economic strategy in light of retaliatory tariffs set to take effect soon against US goods, raising concerns regarding bilateral trade relations.
If war is what the US wants, be it a "trade war", then the Chinese side will reciprocate. We have no choice but to stand firm in our stance.
The multilateral trading system is experiencing disruptions, and tariff barriers continue to increase, which is impacting China's trade dynamics significantly.
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