Business/ China shakes up trade team amid escalating tensions with U.S.
In a surprise move, China has replaced its top trade negotiator, appointing former WTO ambassador Li Chenggang to lead talks as tensions with Washington escalate. The reshuffle comes just weeks after the U.S. hiked tariffs on Chinese goods to 145%, prompting Beijing to retaliate with its own levies.
While China’s Q1 GDP growth beat expectations at 5.4%, officials warn the full impact of U.S. tariffs—which only took effect recently—has yet to be felt.
Analysts suggest the leadership change signals Beijing’s desire to break the deadlock, though others call it a routine promotion timed awkwardly.
At a press conference, China’s statistics bureau slammed U.S. “trade bullying,” accusing Washington of undermining global economic recovery.
State media echoed the sentiment, dismissing U.S. claims of being a “victim” in trade disputes.
Despite strong retail and factory data, concerns linger. March’s export surge may reverse as tariffs bite, while the property slump continues to drag—investment fell nearly 10% year-on-year.
With exports under pressure, boosting domestic demand will be critical for China’s economic resilience.
As both sides remain open to talks but refuse to back down, Li’s diplomatic experience could prove pivotal—if negotiations ever begin.
