English
China Prepares for Long-Term Trade War with the US Through Urgent Measures
China's Plans to Leverage Domestic Market to Support Exporters Amid Ongoing Trade Tensions with the US
China has announced plans to harness the vast potential of its domestic market to support businesses in facing external challenges, a clear indication of the government's efforts to ensure the resilience of its exporters amid the ongoing trade tensions with the United States.
This announcement came through a statement from the Chinese Ministry of Commerce on Friday, following a meeting in Beijing with Deputy Minister Sheng Qiuping. The ministry emphasized that China's domestic market provides strong support to companies engaged in foreign trade, stressing the importance of fully leveraging the immense advantages of the local market while achieving a balance between stabilizing foreign trade and stimulating domestic consumption.
This statement coincided with announcements from major Chinese e-commerce companies, such as JD.com, Alibaba Group Holding, and Tencent Holdings, which have launched initiatives to assist Chinese exporters in expanding within the domestic market. JD.com committed to purchasing products from Chinese exporters worth at least 200 billion yuan (approximately $27.4 billion) over the next year, with these goods to be sold in the domestic market.
US Softening? On the US side of the dispute, President Donald Trump expressed hesitation about continuing to raise tariffs on China, warning that such measures could lead to a near halt in trade between the two countries. He also revealed repeated attempts by China to reach a trade agreement.
