China’s leaders are downplaying the potential impact from President Donald Trump’s trade war, saying they have the capacity to protect jobs and limit damage from higher tariffs on Chinese exports.
The briefing Monday by several senior officials of different government ministries appeared aimed at shoring up confidence with promises of support for companies and the unemployed, easier lending conditions and other policies to counter the impact of combined tariffs of up to 145% on U.S. imports from China.
It followed a meeting of China’s powerful Politburo last week that analysts said had focused on ways to counter keep growth on track despite slowing exports.
“Chinese policymakers are on heightened standby mode,” Louise Loo, lead economist at Oxford Economics said in a report. She noted that the policies were similar to earlier pronouncements.
Uncertainty persists over the status of exchanges, if any, between the White House and Chinese leader Xi Jinping.
Trump said last week that he’s actively negotiating with the Chinese government on tariffs — while Treasury Secretary Scott Bessent said talks have yet to start.