Economy Update – Follow-Up
Chinese manufacturers reported significant increases in orders last February as importers aimed to circumvent the elevated tariffs that the United States, under President Donald Trump, has imposed. In a development reflecting these tensions, Beijing is currently evaluating potential responses to these trade measures.
Previously, President Trump enacted a 10% tariff on imports from China, which is set to escalate to 20% imminently. This decision has generated considerable concern among Chinese officials and businesses alike.
Reports indicate that Chinese authorities are exploring both tariff adjustments and alternative non-tariff strategies to counteract the impact of the rising U.S. tariffs. A spokesman for the Chinese Foreign Ministry, Lyn Jian, emphasized that, “China will take all necessary measures to protect its legitimate rights and interests vigorously,” when addressing inquiries about the government’s potential actions.
Additionally, an unnamed source cited by a Chinese news organization suggested that U.S. agricultural and food products may be among the goods targeted for retaliation.
In the backdrop of these developments, officials from China’s Ministry of Commerce have noted that both countries are engaged in ongoing dialogue regarding trade relations.
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