US Has a Wrong Perception of China, Says Foreign Minister 

China’s Foreign Minister Wang Yi gestures during a press conference about foreign policy and external relations, for the Second Session of the National People’s Congress (NPC) in Beijing, China, 07 March 2024. (EPA)
China’s Foreign Minister Wang Yi gestures during a press conference about foreign policy and external relations, for the Second Session of the National People’s Congress (NPC) in Beijing, China, 07 March 2024. (EPA)
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US Has a Wrong Perception of China, Says Foreign Minister 

China’s Foreign Minister Wang Yi gestures during a press conference about foreign policy and external relations, for the Second Session of the National People’s Congress (NPC) in Beijing, China, 07 March 2024. (EPA)
China’s Foreign Minister Wang Yi gestures during a press conference about foreign policy and external relations, for the Second Session of the National People’s Congress (NPC) in Beijing, China, 07 March 2024. (EPA)

The US is clinging to wrong perceptions of China and has yet to fulfill its "promises" despite some progress since presidents Joe Biden and Xi Jinping met last November, China's Foreign Minister Wang Yi said on Thursday.

Speaking at a news conference on the sidelines of an annual parliament meeting in Beijing, Wang said exchanges between both countries can only continue if both sides respect and recognize their differences.

"It has to be pointed out that the US side's erroneous perception of China continues, and the promises it has made have not really been fulfilled," Wang said at the National People's Congress.

"The methods of suppressing China are constantly being renewed, and the list of unilateral sanctions is constantly being extended," he said.

The "crimes" the US wanted to add to the list China had supposedly committed "have reached an unbelievable level," Wang said.

Still, Biden had made it clear the US would not seek a new Cold War nor seek to change the Chinese system or back Taiwan's independence, Wang said.

In an annual and wide-ranging discussion, Wang struck a relatively measured tone as he also covered relations with Russia and the Ukraine conflict, Europe, China's stuttering economy and artificial intelligence.

Wang said China would submit a draft resolution on AI to the United Nations General Assembly, reflecting the need for both development and security.

"AI should always be under the control of human beings," he said.

Uneasy detente

Tensions between the two superpowers have slightly eased since Biden and Xi staged their landmark summit in San Francisco last November, but they remain in an uneasy detente ahead of the US election this year which could see Republican China hawk Donald Trump return to the White House.

Washington has repeatedly stated its desire to put a floor under the relationship after it spiraled to its worst in decades last year over issues including Taiwan, tech competition, trade and an alleged Chinese spy balloon shot down by the US off its east coast.

China alleges the US is trying to contain and suppress its high-tech development and industrial policy, while both militaries eye each other closely amid increased deployments across East Asia.

"So we urge the US to understand the historical development trend, objectively and rationally look at China's development (and) actively and pragmatically carry out interactions with China."

Beijing also faces ongoing geopolitical confrontations on multiple fronts, including with Europe on trade and the Ukraine war, Japan across a variety of issues, as well as the Philippines over the South China Sea, a regional hotbed of competing territorial claims.

Wang said China is willing to work with Russia to foster new drivers of cooperation and consolidate friendship.

China and Russia had declared a "no limits" partnership in February 2022 when Putin visited Beijing just days before he sent tens of thousands of troops into Ukraine, triggering the deadliest land war in Europe since World War Two.

Wang also announced an expansion of its visa-free travel scheme, saying that China will offer visa-free travel to nationals from Switzerland, Ireland, Hungary, Australia, Belgium and Luxembourg from March 14.

China currently has a mutual visa waiver agreement with 22 countries, including most recently Thailand, Singapore and Malaysia.

China has also unilaterally allowed visa-free entry for citizens from nations such as Germany, France, Spain, the Netherlands and Italy for 15 days. Those five European nations have yet to reciprocate with a similar arrangement for Chinese citizens.



Trump Pauses Tariffs on Most Nations for 90 Days, Raises Taxes on Chinese Imports

A crane lifts an imports container from the cargo ship Epaminondas while it is docked at the Port of Baltimore, Wednesday, April 9, 2025, in Baltimore. (AP)
A crane lifts an imports container from the cargo ship Epaminondas while it is docked at the Port of Baltimore, Wednesday, April 9, 2025, in Baltimore. (AP)
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Trump Pauses Tariffs on Most Nations for 90 Days, Raises Taxes on Chinese Imports

A crane lifts an imports container from the cargo ship Epaminondas while it is docked at the Port of Baltimore, Wednesday, April 9, 2025, in Baltimore. (AP)
A crane lifts an imports container from the cargo ship Epaminondas while it is docked at the Port of Baltimore, Wednesday, April 9, 2025, in Baltimore. (AP)

Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days, but raised the tax rate on Chinese imports to 125%.

It was seemingly an attempt to narrow what had been an unprecedented trade war between the US and most of the world to a showdown between the US and China. The S&P 500 stock index jumped nearly 7% after the announcement, but the precise details of Trump's plans to ease tariffs on non-China trade partners were not immediately clear.

Trump posted on Truth Social that because "more than 75 Countries" had reached out to the US government for trade talks and have not retaliated in meaningful way "I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately."

The 10% tariff was the baseline rate for most nations that went into effect on Saturday. It's meaningfully lower than the 20% tariff that Trump had set for goods from the European Union, 24% on imports from Japan and 25% on products from South Korea. Still, 10% would represent an increase in the tariffs previously charged by the US government.

The announcement came after the global economy appeared to be in open rebellion against Trump's tariffs as they took effect Wednesday, a signal that the US president was not immune from market pressures.

Business executives were warning of a potential recession caused by his policies, some of the top US trading partners are retaliating with their own import taxes and the stock market is quivering after days of decline.

White House press secretary Karoline Leavitt said the walk back was part of some grand negotiating strategy by Trump.

"President Trump created maximum negotiating leverage for himself," she said, adding that the news media "clearly failed to see what President Trump is doing here. You tried to say that the rest of the world would be moved closer to China, when in fact, we’ve seen the opposite effect the entire world is calling the United States of America, not China, because they need our markets."

But market pressures had been building for weeks ahead of Trump's move.

Particularly worrisome was that US government debt had lost some of its luster with investors, who usually treat Treasury notes as a safe haven when there's economic turbulence. Government bond prices had been falling, pushing up the interest rate on the 10-year US Treasury note to 4.45%. That rate eased after Trump's reversal.

Gennadiy Goldberg, head of US rates strategy at TD Securities, said before the announcement that markets wanted to see a truce in the trade disputes.

"Markets more broadly, not just the Treasury market, are looking for signs that a trade de-escalation is coming," he said. "Absent any de-escalation, it’s going to be difficult for markets to stabilize."

John Canavan, lead analyst at the consultancy Oxford Economics, noted that while Trump said he changed course due to possible negotiations, he had previously indicated that the tariffs would stay in place.

"There have been very mixed messages on whether there would be negotiations," Canavan said. "Given what's been going on with the markets, he realized the safest thing to do is negotiate and put things on pause."

Presidents often receive undue credit or blame for the state of the US economy as their time in the White House is subject to financial and geopolitical forces beyond their direct control.

But by unilaterally imposing tariffs, Trump is exerting extraordinary influence over the flow of commerce, creating political risks and pulling the market in different directions based on his remarks and social media posts. There still appears to be 25% tariffs on autos, steel and aluminum, with more imports set to be tariffed in the weeks ahead.

On CNBC, Delta Air Lines CEO Ed Bastian said the administration was being less strategic than it was during Trump's first term. His company had in January projected it would have its best financial year in history, only to scrap its expectations for 2025 due to the economic uncertainty.

"Trying to do it all at the same time has created chaos in terms of being able to make plans," he said, noting that demand for air travel has weakened.

Before Trump's reversal, economic forecasters say his second term has had a series of negative and cascading impacts that could put the country into a downturn.

"Simultaneous shocks to consumer sentiment, corporate confidence, trade, financial markets as well as to prices, new orders and the labor market will tip the economy into recession in the current quarter," said Joe Brusuelas, chief economist at the consultancy RSM.

Treasury Secretary Scott Bessent has previously said it could take months to strike deals with countries on tariff rates, and the administration has not been clear on whether the baseline 10% tariffs imposed on most countries will stay in place. But in an appearance on "Mornings with Maria," Bessent said the economy would "be back to firing on all cylinders" at a point in the "not too distant future."

He said there has been an "overwhelming" response by "the countries who want to come and sit at the table rather than escalate." Bessent mentioned Japan, South Korea, and India. "I will note that they are all around China. We have Vietnam coming today," he said.

What's not yet known is what Trump does with the rest of his tariff agenda. In a Tuesday night speech, he said taxes on imported drugs would happen soon.