Chinese authorities have vowed to enhance support for exporters affected by the tariffs imposed by U.S. President Trump. In a briefing held on Monday, Beijing announced a series of strategies designed to assist exporters facing challenges, which include ensuring access to financial loans and enhancing domestic consumption to mitigate the impact of U.S. tariffs. This marks the most comprehensive response since the commencement of Trump’s second term, as exports to the U.S. continue to decline. Sheng Qiuping, the Vice-Minister of Commerce, noted, “Since the start of this year, the risks and challenges confronting the development of China’s foreign trade have considerably risen, particularly due to the unilateral tariffs imposed by the U.S.” He further expressed that China would adopt a “goal-oriented and problem-oriented approach” to support foreign trade enterprises. Although these measures address immediate trade challenges, Beijing indicates it will not hastily introduce broad economic stimuli or agreements, even as the tariffs threaten to impede bilateral trade and adversely affect a sector that contributed to nearly a third of last year’s economic growth.
The material has been provided by InstaForex Company – www.instaforex.com
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