The Chinese economy grew in the first quarter of 2025 thanks to strong exports, according to a report by the Chinese government. But the trade war between Washington and Beijing is overshadowing further prospects. This is reported by UNN with reference to Associated Press and Xīnhuаshе.
Details
In the first quarter of 2025, China's economy grew by 5.4 percent year-on-year, exceeding consensus estimates (+5.1 percent). Exports helped China's economy grow, according to a statement by the Chinese government. The official target for the Chinese economy this year is about 5%.
At the same time, analysts predict that the world's second largest economy may slow down. This will be due to the consequences of trade opposition between Washington and Beijing. The escalation of the customs conflict overshadows further prospects.
Reference
Trump's latest decree increased tariffs to 125%, but there is already a 20% tariff on fentanyl. The total U.S. tariff rate on Chinese imports is now 145%. Beijing responded to the U.S. by raising tariffs on all goods from the United States of America from 84% to 125% from April 12.
Also, the Chinese leadership emphasizes its determination to keep its own markets open for trade and investment, emphasizing its focus on trade with other countries.
Let us remind you
During Xi Jinping's visit to Vietnam, China called for joint resistance to U.S. pressure and 45 bilateral agreements were signed. The agreements cover areas from trade to artificial intelligence.
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