China maintains a defiant posture in response to President Trump’s trade war, imposing retaliatory tariffs despite economic difficulties. During the National People’s Congress, concerns about the trade conflict were largely avoided. Premier Li Qiang announced ambitious economic targets while acknowledging geopolitical tensions. Optimism remains among some delegates for a future settlement, despite contrasting stock market performances in both nations.

China has adopted a defiant stance in response to President Trump’s trade war, currently facing 20% tariffs on all exports to the U.S. Despite its economic challenges, Beijing remains resistant and has imposed retaliatory tariffs against the United States. The atmosphere of strength was evident during the opening of the National People’s Congress (NPC), where thousands of delegates gathered at Tiananmen Square for this pivotal political event.

During the NPC, discussions about the trade war were notably avoided by legislators when questioned by CBS News. They remained silent regarding their concerns about the ongoing tensions between China and the U.S., including potential resolutions between Presidents Trump and Xi Jinping. The focus inside the Great Hall of the People shifted towards economic matters, overshadowed by geopolitical events, especially the trade conflict with the U.S.

Premier Li Qiang, speaking at the NPC, announced a GDP growth target of 5% and highlighted plans for fiscal stimulation to address issues such as youth unemployment and weak consumer spending, exacerbated by a property crisis. He acknowledged the challenges posed by geopolitical tensions, particularly the ongoing trade war with the United States, which shows no signs of resolution according to public perception.

Some delegates expressed optimism amid the rivalry, with Delegate Lin Shun-chao from Hong Kong predicting a future settlement. Although both nations have experienced differing stock market trends—Chinese stocks rising approximately 15% from the year’s start while U.S. markets declined nearly 2%—some Chinese citizens remain hopeful for a trade agreement between Beijing and Washington. This divergence in market performance may indicate confidence in China’s economic resilience against the challenges posed by President Trump’s policies.

In summary, China’s National People’s Congress has showcased a defiant response to President Trump’s trade war, even amid domestic economic struggles. While top officials have acknowledged the geopolitical tensions at play, optimism remains among certain delegates regarding future negotiations with the U.S. The contrasting stock market reactions reflect differing sentiments in the two countries’ economic outlooks, with China’s resilience appearing stronger despite external pressures.

Original Source: www.cbsnews.com

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