BEIJING: China’s Premier Li Qiang said on Tuesday the “mutually destructive consequences of tariffs have become increasingly evident” over 2025, in remarks at a “1+10 Dialogue” including the heads of the IMF, World Trade Organization and World Bank.
Without naming US President Donald Trump, China’s second-highest-ranking official told the meeting in Beijing that greater effort was needed to reform global economic governance due to the trade barriers.
China’s trade surplus topped US$1 trillion for the first time in November, trade data showed on Monday, which economists say is linked to Trump’s tariffs diverting shipments from the world’s second-largest economy to other markets, putting pressure on manufacturing sectors in those economies.