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Chinese Premier Li Qiang, in a phone conversation with European Commission President Ursula von der Leyen, reaffirmed China's preparedness to address external economic pressures. This follows the United States' announcement of sweeping 104% tariffs on Chinese imports, enacted under President Donald Trump.

According to the state-run Xinhua News Agency, Premier Li stated that China possesses a "sufficient reserve of policy tools" to manage economic uncertainties. He added, “China's macroeconomic policy this year takes full account of various uncertainties and is fully confident of maintaining sustained and healthy economic development.” Li assured that the country can "fully hedge against adverse external effects," signaling a strong stance amid ongoing global economic tension.

Escalating Trade Tensions with the U.S.

Beijing strongly criticized the latest U.S. tariffs and pledged a "reciprocal" response. Trump, speaking on the matter, said that China "wants to make a deal, badly," but claimed they are unsure how to initiate discussions. He added he is waiting for a call from Chinese officials.

White House Press Secretary Karoline Leavitt mentioned that President Trump would be “gracious” if China decides to reopen talks. However, for now, both sides appear entrenched in their positions.

China to Impose Tariffs in Response

China has announced plans to implement 34% tariffs on U.S. imports starting Thursday. The move is a direct response to Washington's aggressive trade stance, and it marks an intensification of the standoff between the world’s two largest economies.

Market Reaction Reflects Global Uncertainty

Investor sentiment remains volatile. On Tuesday, the S&P 500 fell by 1.6% after initially plunging 3%. The index now sits nearly 19% below its February peak. The Dow Jones Industrial Average lost 320 points, or 0.8%, reversing an earlier gain of 1,460 points. The Nasdaq Composite dropped 2.1%, adding to continued concerns about the broader economic impact of the trade dispute.


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