China Calls for Dialogue with the U.S. to Strengthen Trade Relations Amid Tariff Concerns

 China has expressed its willingness to engage in active dialogue with the United States based on mutual respect to foster stable economic and trade relations, Vice Commerce Minister Wang Shouwen announced on Friday. As China's International Trade Representative, Wang emphasized Beijing’s resilience in handling external economic shocks, responding to concerns about potential tariffs under former U.S. President Donald Trump’s policies.

"We believe that China and the U.S. can maintain a stable, healthy, and sustainable development trend in economic and trade relations," Wang stated during a press conference in Beijing. He also highlighted China's readiness to expand cooperation areas and manage bilateral differences effectively.

The lingering impact of Trump-era tariffs, which exceeded 60% on Chinese goods, continues to challenge Chinese manufacturers, prompting some to relocate factories to Southeast Asia. The uncertainty has also impacted the Chinese yuan, which initially rallied by 10% during Trump’s first presidency but later depreciated by 12% amid tariff impositions and the pandemic.

Liu Ye, an official from China's central bank, reassured that the yuan exchange rate would remain stable at a "reasonable and balanced level." She stressed the importance of maintaining flexibility in the currency while managing market expectations to avoid one-sided speculation. The central bank also pledged to guard against excessive exchange rate volatility to ensure market stability.

Meanwhile, Chinese companies are taking measures to mitigate currency risks, including increasing dollar reserves, pricing contracts in yuan, and establishing import lines. These steps aim to bolster China’s economic defenses amid evolving trade dynamics with the United States.