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US President Donald Trump's latest tariffs announcement has sent shockwaves across the Asian region, with the imposition of 10 to 41 percent "reciprocal tariffs" against nearly 70 trading partners signaling a fresh tide of protectionism that will hurt developing economies around the world, analysts said.
The United States' latest move to add tariffs on a range of imported household appliances starting later this month will prompt Chinese home appliance manufacturers and exporters to realign supply chain networks and diversify business layouts in emerging markets to navigate tariff challenges, experts said on Friday.
Container ships departing from China for the United States are once again experiencing a surge in demand, with space fully booked and orders lining up through June, said forwarders and executives of shipping companies.
Beijing and Washington have maintained communication on trade-related issues through various multilateral and bilateral events and at multiple levels after the two countries reached a temporary tariff truce in Geneva earlier this month, the Ministry of Commerce said on Thursday.
The tariff policies of the United States are like an "addictive drug" that could destabilize the global trade system and undermine its own economic health, according to experts at a World Salon and Institute for China-America Studies event earlier this month.
China's economy is expected to contribute around a quarter of global growth this year, said a senior official with the International Monetary Fund.
Chinese Vice-Premier He Lifeng, the lead negotiator regarding Sino-US trade and economic affairs, met with lead persons from the other side — US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer — in Geneva from May 10 to 11. It was the first such high-level meeting between the two sides amid the current tariff frictions.
As tariff policies of the United States challenge the global trade order, the world might build a new multilateral trade system and see reshuffling of the international monetary architecture, in which Europe and emerging markets such as China could play a bigger role, leading international economists said.
With China and the United States agreeing to de-escalate trade tensions, European companies are urging both sides to resolve differences through constructive engagement and refrain from actions that could disrupt global trade and investment activities, said the European Union Chamber of Commerce in China.
Chinese exporters to the United States are increasingly pivoting to the domestic market as overseas demand softens, with official tax data showing a steady uptick in local sales in April.
Charles Michel, former president of the European Council, former Belgian Prime Minister, distinguished professor at CEIBS, said in an interview on May 9 that trade war is not the right option.
Business groups and economists have welcomed the tariff adjustment measures announced by China and the United States on Monday.
Fair and equality-based negotiations for mutual benefit and with mutual respect should be the basis for solving trade disputes between China and the United States, said a senior expert.
China and the US announced a series of tariff adjustment measures aimed at easing trade tensions between the world's two largest economies, according to a joint statement issued by both governments.
The US government's plans to impose "reciprocal tariffs" on multiple countries and attach additional tariffs on specific economies over the baseline 10 percent tariff, aim to reshape foreign-trade patterns and compel other countries to prioritize its own interests. Such behavior contravenes the trend of multilateral cooperation, severely threatens the recovery of the global economy and will ultimately harm the US itself.
Amid the roar of machinery at a motorcycle factory in Luoyang, Henan province, hundreds of wooden crates marked with delivery details of customers in Europe, Africa and Asia are loaded onto trucks.
China and the United States both applauded the progress made during their trade talks in Geneva over the weekend in a bid to deescalate the tensions triggered by the US trade wars.
China launched a sweeping campaign to crack down on the smuggling of strategic minerals, including transshipment through third-party countries, to reinforce control over critical raw materials.
The time has come to place orders for toys for the 2025 holiday season. Chinese toy makers are enhancing their offerings by producing higher-value and more innovative toys to remain competitive and expanding into international markets, especially amid ongoing trade tensions, according to industry leaders.
China reiterated on Thursday that trade talks with the United States later this week must be grounded in "mutual respect, equal consultation and mutual benefit", without confirming whether a "phase-two agreement" between Beijing and Washington will be initiated during the upcoming conversations.
China firmly opposes the United States' decision to eliminate the de minimis exemption, a tax-free policy that allows low-cost parcels to enter the US duty-free, for Chinese goods, and will work with all countries to promote the sound development of cross-border e-commerce, the Ministry of Commerce said on Thursday.
US tech company HP Inc has reiterated its long-term commitment to the Chinese market, emphasizing the country’s critical role in its global manufacturing and innovation strategies.
China has agreed to engage with the United States on tariff issues, after the White House signaled the possibility of adjusting its tariff policies and proactively reached out to Beijing through various channels, the Ministry of Commerce said on Wednesday.
Washington's so-called "reciprocal tariffs" are hurting the United States more than China, and if the US wants to talk, China is expected to be open only to negotiations based on equality and fairness, said a senior economist.
Billionaire investor Warren Buffett and Apple CEO Tim Cook have joined a chorus of business leaders warning against Washington's tariff-driven trade policies, highlighting that they are inflating costs for companies in the United States and harming economic growth.
Chinese cross-border e-commerce platforms have gained in popularity among US consumers who are flocking to these online marketplaces to buy products directly from Chinese suppliers amid the latest rounds of tariff hikes from the Trump administration.
China's long history means there have been no shortage of lessons learned from experience, and there is a saying to the effect that those who act unjustly for a long time will surely bring about their own downfall.
US retailer Walmart has resumed product sourcing from some Chinese suppliers, marking a shift in its procurement strategy amid rising inventory pressure and looming price hikes for consumers in the United States, according to Chinese suppliers.
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