Catenaa, Saturday, April 19, 2025-China warned on Tuesday that escalating tariffs imposed by the Trump administration will have serious repercussions for the global economy, even as its first-quarter growth surpassed expectations.
China’s GDP expanded by 5.4% year-over-year between January and March, outpacing analysts’ forecasts of 5.1%. The surge was driven by stronger factory output and consumer spending, despite headwinds from a deepening property slump and rising trade tensions.
Sheng Laiyun, Deputy Commissioner of China’s Statistics Bureau, said the “trade bullying” by the U.S. violates World Trade Organization principles and poses a threat to the global order.
He noted that the 145% tariffs slapped on Chinese goods would weigh on foreign trade but asserted the world’s second-largest economy would maintain long-term growth.
President Xi Jinping continued his diplomatic tour of Southeast Asia, stopping in Malaysia to solidify economic alliances and push back against U.S. pressure. “We must tear down walls, not build them,” a Chinese foreign ministry spokesperson said, reiterating Beijing’s calls for unity among developing nations.
Meanwhile, global markets reacted negatively to the growing trade rift. Asian indexes fell, with Japan’s Nikkei down 1.3% and Hong Kong’s Hang Seng tumbling 2.3%.
The U.S. insists the “ball is in China’s court” to resolve the impasse. China’s leadership reshuffle — including naming Li Chenggang as the new top trade negotiator — suggests Beijing is preparing for a prolonged standoff.
Despite the challenges, Beijing announced 48 new measures aimed at boosting domestic consumption and cushioning the economy from external shocks.
