China’s Premier Li Qiang expressed confidence in the nation’s capability to tackle economic hurdles attributed to the U.S.’s widespread tariffs.
In a conversation with European Commission President Ursula von der Leyen, Li emphasized that China is well-equipped with macroeconomic tools to handle uncertainties, as reported by Xinhua, the state news outlet. Li conveyed China’s assurance in navigating adverse external impacts while sustaining robust economic growth.
The telephonic exchange also delved into strategies for restoring stability and predictability to the global economy, as both entities grapple with U.S. protectionist policies. Li underlined China’s initiative to both protect its interests and uphold global trade norms.
This interaction marked a pivotal moment, being von der Leyen’s first high-level engagement with China since embarking on her second tenure and following the tariff disruptions initiated by U.S. President Donald Trump.
While the European Union raised trade issues with China, there appears to be a mutual inclination towards mending frayed relations, despite lingering European apprehensions about Beijing’s economic strategies.
With the EU still formulating its countermeasures to U.S. tariffs on steel and aluminum, including potential reciprocal actions, some analysts suggest fortifying ties with China might be a prudent course.
However, European governments are treading carefully, wary of the geopolitical crossfire between the global powerhouses. Von der Leyen advocated for a diplomatic settlement to avert further tensions, recognizing the precarious position Brussels faces.
Trump’s imposition of steep tariffs has disrupted global markets, inciting fears of a worldwide economic slowdown. In retaliation, Beijing is set to impose its own significant tariffs on U.S. goods, intensifying the standoff between the two economic giants.
