China’s Li condemns ‘mutually destructive tariffs’
In his speech at the “1+10 Dialogue” with the heads of the IMF, World Trade Organization and World Bank, Chinese Premier Li Qiang said that throughout 2025, “the mutually destructive consequences of tariffs are becoming increasingly evident.”
More efforts are needed to reform global economic governance due to trade barriers, China’s second-most senior official told a meeting in Beijing on Tuesday, without naming US President Donald Trump.
Trade data released on Monday showed China’s trade surplus surpassed US$1 trillion (A1.5) trillion for the first time in November. Economists say this is linked to Trump’s tariffs diverting shipments from the world’s second-largest economy to other markets, putting pressure on manufacturing sectors in those economies.
“Since the beginning of the year, the threat of tariffs has loomed over the global economy,” Li said at the meeting, which also included senior officials from the OECD and the International Labor Organization.
Li also noted that artificial intelligence has become the center of commerce, emphasizing that models such as China’s DeepSeek are drivers of the global transformation of traditional industries and catalysts of growth in new sectors, including smart robots and wearable devices.
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