Chinese Premier Li Qiang said his country has ample policy tools to “fully offset” any negative external shocks as President Donald Trump imposed an astounding 104% in tariffs across all Chinese imports on Wednesday, reported Bloomberg.
Li Qiang reiterated his optimism about the growth of the world’s second-largest economy in 2025, despite the latest tariffs from Donald Trump.
During a call with European Commission President Ursula Von der Leyen on Tuesday, Li said China’s macroeconomic policies this year have fully taken account of various uncertainties, according to an official readout. China is strongly confident about maintaining the country’s healthy and sustainable economic growth, Li, China’s No. 2 official after President Xi Jinping, said, the report added.
The call between Li and Ursula Von der Leyen came hours before both economies were set to be hit by Donald Trump’s so-called reciprocal tariffs. While Europe faces an added 20% levy, China was in line for a massive surtax totalling 104% starting 12:01 am April 9. A US official told Bloomberg on Tuesday the administration is indeed moving forward with that more-than-doubling plan.
During the call, Li reportedly criticised the punitive action on all American trading partners as a typical example of unilateralism, protectionism and economic coercion. He added that China’s firm response is not only to safeguard its own interests but also to defend international trade rules.
“Protectionism leads nowhere — openness and cooperation are the right path for all,” Li told Von der Leyen.
