Photo:EPA/UPG
China has vowed strong resistance after US President Donald Trump sharply escalated the trade war by raising tariffs on all Chinese imports to 20%. According to CNN, Beijing has retaliated with mirror measures: duties of up to 15% on a number of US goods, expanded export controls on dozens of US companies, and a lawsuit at the World Trade Organisation.
Official Beijing has stated that the Chinese people “will never bow to hegemony or intimidation”, and that attempts at pressure and blackmail by the United States are doomed to failure. “If the United States insists on a tariff or trade war, China will fight to the end,” said Chinese Foreign Ministry spokesperson Lin Jian.
The escalation between the two global economies coincided with the start of important political events in Beijing. During the annual meetings of the parliament and top advisory bodies, the Chinese authorities demonstrate confidence in the country’s ability to overcome external pressure and continue technological development.
Premier Li Keqiang is expected to announce China’s plans for economic growth, increased defence spending, and strengthened leadership in technology. Beijing is betting on the development of artificial intelligence, electric vehicle production, quantum computing and microchips.
At the same time, the United States is considering tightening restrictions on investment in Chinese technology and continues to block China’s access to strategic US sectors.
However, Beijing is convinced that this pressure creates an opportunity for China to strengthen its role in the world, in particular, to become a global leader in artificial intelligence and green energy.
President Xi Jinping called on local businesses to become more involved in economic modernisation and supported the creation of a new law to stimulate the private sector.
Analysts say that this year’s parliamentary session will be another demonstration of Xi Jinping’s centralised power and the unity of the political elite in the face of growing challenges from the US and Europe.
As the stakes in the trade war rise, experts warn that the confrontation between the two superpowers will only deepen, affecting not only the economy but also technology and geopolitics.
