China’s Premier Li Qiang has urged global executives to resist protectionism and defend globalization during a two-day forum in Beijing. The gathering comes as the US has ratcheted up trade pressure on China, imposing 20% tariffs on all Chinese imports.
Li warned that “decoupling and breaking supply chains would only deepen crises,” while pledging to expand market access for foreign investors. He also emphasized the importance of cooperation between the US and China, saying they share extensive common interests and a broad space of cooperation.
The forum has been seen as an attempt by China to project confidence and reverse plummeting foreign investment in its slowing economy. Li met with US Senator Steve Daines on the sidelines, describing their conversation as a “first step” towards a meeting between Trump and Chinese leader Xi Jinping.
US tariffs could be elevated next month, leading to further trade uncertainties. Executives from major US firms including Qualcomm, Pfizer, and FedEx attended the gathering, where Li stressed the need for win-win cooperation.
The drive to reshape America’s trading relationship with China has raised concerns about decoupling and breaking supply chains. However, many multinational executives believe that trade is a positive force that enables scale and comparability of advantages globally. Rich Lesser, global chair of Boston Consulting Group, emphasized the importance of adapting to technological shifts and geopolitical changes.
As tensions between the US and China continue to rise, China’s role as a responsible power on the global stage has become increasingly important. Li emphasized that China will “firmly stand on the right side of history and the side of fairness and justice.”
Source: https://edition.cnn.com/2025/03/24/business/china-us-executives-trade-development-forum-intl-hnk/index.html