China has introduced a series of policy measures to protect its export sector from the potential impact of heightened tariffs proposed by the incoming Trump administration in the United States. The announcement on Thursday by China’s Commerce Ministry aims to counter ‘unreasonable foreign trade restrictions’ and foster a supportive environment for the nation’s exports.
The move comes as US President-elect Donald Trump signals a tougher trade stance against China, including a proposed 60% increase in tariffs on Chinese goods. Trump’s earlier administration had initiated a trade war that saw a wide range of duties imposed, significantly affecting the profitability of Chinese exports.
In a statement, the Commerce Ministry outlined a nine-point plan to promote the stable growth of foreign trade and consolidate and enhance the trend of positive economic recovery. Among the key measures are the expansion of export credit insurance coverage and increased financing support for enterprises engaged in international trade. The policy framework was reported by the South China Morning Post.
The ministry also emphasized strengthening cross-border e-commerce, a sector identified as a growing driver of China’s economy. Additional measures include boosting exports of specialty agricultural products and other goods while ensuring a steady flow of crucial imports such as advanced equipment and energy resources.
China’s response underscores its commitment to maintaining the stability of its trade sector amidst escalating global trade challenges. The comprehensive measures reflect the country’s strategy to mitigate risks and sustain its economic momentum in the face of external pressures.
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