BANGKOK (AP) – China’s prime minister said Tuesday that tariff hikes are dealing a “severe blow” to the global economy, even as China’s own trade surplus has soared in the past. 1 trillion dollars.
Premier Li Qiang made the remarks at a forum of top international organizations in Beijing as top Chinese leaders attended the annual economic planning conference.
“Since the beginning of this year, we have seen economic and trade restrictive measures tightened and tariff whips used around the world, severely damaging the global economy,” Li said, without mentioning the US president. donald trump and his tariff increase in particular.
“As the situation unfolds, the harmful consequences of tariffs that harm both others and ourselves are becoming increasingly clear, and the demands from all sides in support of free trade are becoming increasingly strong,” Premier Li told a gathering of top representatives from the International Monetary Fund, World Bank and World Trade Organization.
President Trump significantly increased tariffs on imports from China and other countries, leading to a decline in Chinese exports to the United States, which was offset by increased shipments to other global markets. Exports to the United States in November fell 29% from a year earlier, marking the eighth consecutive month of decline, according to Chinese customs statistics reported on Monday.
Meanwhile, China’s trade surplus in dollar terms in 2025 has already exceeded $1 trillion as of November, and exports have increased by 5.9% from the previous year.
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Trade tensions between China and Washington have since eased somewhat. President Trump and Chinese President Xi Jinping They met during a regional economic summit in South Korea in late October. Both countries agreed to withdraw previous measures and extend the ceasefire for one year.
With investment in technology increasing faster than overall investment, Lee said, “We need to embrace open-mindedness and work hand in hand to pursue openness and cooperation,” and called for “collaborative innovation.”
This week’s annual planning meeting, the Central Economic Work Conference, follows a top-level meeting in October to draft China’s plan for 2026-2030. The report focused on China’s goal of remaining the world’s manufacturing powerhouse and building a strong domestic economy that is more dependent on consumer spending and technological progress.
china economy Last quarter grew at an annualized rate of 4.8%the slowest pace of the year. But economists expect growth to reach the official target of around 5% in 2025, thanks in part to strong exports.
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Borg Wong, an AP photographer in Beijing, contributed.
