Official announcements from China's Ministry of Commerce or reports from reputable news agencies

China Plans Tariff Cuts and Investments Amid Trade War 2.0 Threats

Nov 10, 2024, 12:35 PM

China is considering plans to counteract potential economic impacts from U.S. President Trump's tariff threats by offering tariff cuts, visa exemptions, and investment incentives to American allies in Europe and Asia. The Xi leadership aims to use these proactive measures to draw in U.S. partners and mitigate the damage to the already wobbly Chinese economy. This strategy, described as a 'unilateral opening,' seeks to buy time and leverage in China's ongoing competition with the U.S. This move comes amidst concerns that Trade War 2.0 could end China's growth model.