Even if the Chinese were interested in negotiations, they have no idea whom to talk to and are reluctant to expose themselves, and particularly Chinese President Xi Jinping, to any kind of uncertainty in atmospherics. The Trump administration’s tariffs apply not only to China but also to its trading partners outside the U.S., meaning that even if China does not depend as much on U.S. demand (exports to the U.S. from China have fallen as a percentage of China’s total exports from 20% in 2018 to 15% in 2024), the shock to global demand may affect China’s economy quite deeply. A new report I co-wrote for the U.S. Chamber of Commerce Foundation shows exactly that: Even the companies who see China as the primary source of risk have plans to stay and compete there because, as one firm representative put it, “our greatest fear is that we are surprised by competitors from China elsewhere in the world.”
Author: Meg Rithmire
Published at: 2025-04-08 22:26:06
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