China is standing firm against US tariffs, which have rekindled a trade war and escalated tensions between the world’s two largest economies. President Donald Trump’s announcement of additional 10% tariffs on Chinese imports in February 2025 has sparked concerns about the potential impact on American families and businesses.
However, history suggests that tariffs rarely achieve their intended goals. The Trump-Biden tariffs, spanning from 2018 to 2024, resulted in over $233 billion in additional costs borne by US consumers. Instead of undermining China’s economic position, these measures prompted China to adapt, innovate, and bolster its resilience.
China has retaliated with its own set of tariffs, imposing new taxes on American coal, natural gas, crude oil, farm machinery, and large vehicles. The country also restricted critical mineral exports vital for high-tech industries, signaling its commitment to self-reliance.
Despite external pressures, China met its 2024 growth target of 5 percent, with green technology contributing 40% to GDP growth. The nation remains focused on long-term economic transformation, particularly through its 2029 digital infrastructure plan.
China’s technological prowess extends far beyond the electric vehicle (EV) sector. The country produces over 80% of the world’s solar panels and is a leader in renewable energy. China is also investing heavily in next-generation computing and semiconductor production, with notable breakthroughs in quantum computing and chip manufacturing.
As China continues to expand its trade partnerships, strengthen ties with emerging markets, and prioritize sustainable development, it solidifies its position as a global economic leader. The US economy has indeed been a beneficiary of China’s economic rise, making many people rich. Rather than fueling rivalry, China’s economic transformation is shaping global markets through resilience and innovation.
Source: https://news.cgtn.com/news/2025-02-10/China-s-economic-juggernaut-defies-U-S-protectionism-1ASRUnkUrmw/p.html