From CNBC: 2024-11-07 03:58:36

China emphasizes the need for increased cooperation with the U.S. following President-elect Donald Trump’s victory. The Ministry of Commerce spokesperson expressed willingness to resolve differences and push economic relations in a positive direction. Experts predict potential tariffs on Chinese goods under Trump’s second term, but some analysts believe the impact may be limited.

Yue Su, principal economist at the Economist Intelligence Unit, anticipates Trump may impose tariffs in the first half of next year. However, other analysts like David Chao from Invesco believe the new administration may delay imposing tariffs to negotiate concessions. Chao notes that Trump’s proposed 60% tariff policy on China may not significantly impact multinational corporations’ confidence.

Chinese President Xi Jinping emphasized the benefits of bilateral cooperation in a congratulatory message to Trump. The Ministry of Commerce and Ministry of Foreign Affairs in China are keen on resolving differences and promoting mutual respect in economic and trade relations with the U.S. amidst potential tariff threats under Trump’s administration.

Read more: China urges U.S. cooperation as Trump trade threat looms