China vowed to “fully prepare” emergency plans for increasing external shocks, as a deepening trade war with Donald Trump puts pressure on the world’s No. 2 economy.The decision-making Politburo led by President Xi Jinping also pledged to set up new policy tools on Friday, without elaborating, according to the official Xinhua News Agency.
The report came one day after Beijing dismissed claims from the US that there were talks on reaching a trade deal. China’s Commerce Ministry also upped its demand this week for Washington to revoke all unilateral tariffs, showing it’s in no rush to start negotiations despite Trump’s suggestion he could substantially lower levies in a deal.
The 24-member Politburo typically uses its April huddle to discuss economic issues. While the readouts rarely reveal numerical targets, the vaguely worded statements can give important clues on policy shifts.This month’s meeting is being closely watched for any signs of Beijing rolling out stimulus after the Trump administration hiked levies on most Chinese goods to as high as 145%.
The report came one day after Beijing dismissed claims from the US that there were talks on reaching a trade deal. China’s Commerce Ministry also upped its demand this week for Washington to revoke all unilateral tariffs, showing it’s in no rush to start negotiations despite Trump’s suggestion he could substantially lower levies in a deal.
The 24-member Politburo typically uses its April huddle to discuss economic issues. While the readouts rarely reveal numerical targets, the vaguely worded statements can give important clues on policy shifts.This month’s meeting is being closely watched for any signs of Beijing rolling out stimulus after the Trump administration hiked levies on most Chinese goods to as high as 145%.
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(Edited by : Juviraj anchil)
