With the appointment of Scott Bessant at the Treasury in the White House there is now also the man responsible for the “duties” dossier. And on the day in which his appointment became certain, that of the man who dealt with this issue as a consultant to Donald Trump comes China’s position that it is willing to relaunch a dialogue with the United States that is “based on the principles of mutual respect” in the imminence of Donald Trump’s return to the White House. Deputy Minister of Trade Wang ShouwenBeijing’s chief negotiator on international affairs, assured at the same time that the People’s Republic is capable of “resisting” the impact of external shocks thanks to an economy “that shows signs of stabilization”, more solid than a few months ago . The cautious optimism displayed by Wang, expressed in a briefing with the media, is the response to the load of unknowns linked to the tycoon and his electoral promises of 60% duties on Made in China products towards America.
Wang Shouwen is the head of Beijing’s delegation on international affairs (@web)
The parties “can maintain a stable, healthy and sustainable development trend in their economic and commercial relations”, to the extent of expanding the “areas of cooperation” in the face of “adequate management of differences”. Wang is among the mandarin officials who is most familiar with the extensive US dossiers, as a tireless negotiator in the harsh Sino-American trade tug of war during the first Trump administration. Tariffs, he warned, “will only bring higher costs for consumers and importers” and “history has also shown that a country’s imposition of tariffs on China does not solve its trade deficit problem.” . The dragon, on the other hand, works on the new model of economic development of “double circulation”, with the internal market as the first pillar which tends to develop mutual reinforcement with the external one.
Scott Bessent, the Secretary of State of the Treasury. He has the tariff dossier in his hands which mainly refers to China (@web)
Analysts estimate that the sanctions brandished by the tycoon, targeting exports, could cause a lower growth of Mandarin’s GDP by more than 2%. An enormity if we consider the efforts to hit the 2024 target ‘of around 5%’. Meanwhile, in his first global meetings since Trump’s re-election, President Xi Jinping has launched a diplomatic offensive, hedging against incoming tariffs and preparing to exploit potential rifts between Washington and its allies. In the twenty or so bilateral meetings held in the last 10 days, from Apec in Peru to the G20 in Brazil, Xi has worked to highlight the contrasts with Trump’s “America first” message as defender of the multilateral global trade order.
Xi Jinping and Brazilian President Lula. The two countries are part of Brics (@ansa)
Despite being better prepared for another clash with The Donald, given that many hi-tech companies are less dependent on US imports, China is more vulnerable due to the serious real estate crisis that has weighed down the economy. Much of Mandarin attention has been focused on the global south to strengthen leadership, while ties with Brazil have risen to the level of “shared future for a more just world and a more sustainable planet.” Xi also focused on the expansion of the Brics and the recovery of ties with Asian neighbors, from India to Japan, from South Korea to Australia. The courtship has not spared European countries, threatened by Trump’s plans, but also grappling with growing tensions with Beijing. German Chancellor Olaf Scholz he said that Berlin would work on mediating the EU-China dispute over Brussels’ duties on the import of Chinese e-cars in the meeting with Xi in Rio de Janeiro. In response, Beijing announced today that it would expand the scope of its anti-subsidy investigation into European dairy products to cover additional EU subsidy programs, as well as those of Denmark, France, Italy and the Netherlands.
* What specific consequences could Trump’s tariffs have on American consumers? [[1](https://taxfoundation.org/blog/trump-tariffs-impact-economy/)]
## World Today News Interview: Trump’s Return and the Future of US-China Trade
Welcome to World Today News. We’re diving deep today into the rapidly evolving landscape of US-China relations, particularly in light of Donald Trump’s return to the White House and his stated plans to impose high tariffs on Chinese goods. Joining us today are two distinguished guests: **Dr. Emily Sullivan, Professor of International Trade at Georgetown University**, and **Mr. Jian Wang, Senior Analyst at the Beijing Academy of Social Sciences**.
**Section 1: The Impact of Tariffs**
* **Dr. Sullivan, you’ve extensively studied the effects of tariffs on global trade. How significant do you believe Trump’s proposed 60% tariff on Chinese goods would be for both the US and Chinese economies, and what are some potential unintended consequences?**
* **Mr. Wang, how is China preparing to face these potential tariffs? The article mentions a focus on “double circulation” – could you elaborate on this strategy and its potential to mitigate the impact of Trump’s policies?**
**Section 2: Dialogue and Diplomacy**
* **Mr. Wang, China seems to be emphasizing a willingness for dialog “based on mutual respect”. In your view, is there genuine potential for constructive negotiations between the US and China under Trump’s second term, given his past trade rhetoric and actions?**
* **Dr. Sullivan, do you think there’s room for compromise between the two countries? What are some areas where common ground could be found, and what concessions might Trump be willing to make? Or are we heading towards a prolonged trade war?**
**Section 3: The Global Stage**
* **Mr. Wang, the article mentions China strengthening ties with other countries, particularly within the BRICS bloc and with nations in the Global South. How do you see these alliances influencing China’s position in the face of US pressure?**
* **Dr. Sullivan, Could these developing alliances we’re seeing between China and other nations create a multipolar world with less reliance on the US, or is this simply a strategic response to US pressure? What are the implications of this for the global balance of power?**
* **both you, Dr. Sullivan, and Mr. Wang have deep expertise in international relations. What are your predictions for the future of US-China relations in the coming years? Is there hope for a more stable and mutually beneficial relationship, or are the two nations destined for increased friction?**
We thank you both for sharing your insights on this critical topic.
This interview will hopefully spark a much-needed conversation about the complex issues facing the global economy and the roles the US and China will play in shaping its future. We encourage our viewers to share their thoughts and engage in this important discussion.
