China extends olive branch to Trump amid tariff threats
Chinese leader Xi Jinping congratulated Donald Trump on his presidential election victory in the USA, expressing hope for strengthening dialogue between the countries and developing "mutually beneficial cooperation," state media reported Thursday.
Xi Jinping emphasised that "history has shown that China and the United States benefit from cooperation and lose out from confrontation," reported the Xinhua agency.
US elections. China reacts
"Stable, healthy, and balanced relations between China and the United States are in line with the common interests of both countries and the expectations of the international community," Xi wrote in a congratulatory telegram to Trump.
The Chinese leader expressed hope that "both sides will adhere to the principles of mutual respect, peaceful coexistence, and mutually beneficial cooperation," and also "strengthen dialogue and communication."
In the same dispatch, Xinhua reported that congratulations to Vice President-elect James Vance were separately given by Han Zheng, vice-chairman of the People’s Republic of China.
On Wednesday evening Greenwich Mean Time, the Chinese Ministry of Foreign Affairs published a one-sentence statement saying: "We respect the choice of the American people and congratulate Trump on being elected president."
As noted by Bloomberg, Beijing typically congratulates the winner of the US presidential elections quickly, except in situations such as when President Joe Biden won the 2020 vote. China was one of the few countries that delayed its reaction for a few days because Trump contested the results.
Trump threatens tariffs
One of Donald Trump's main ideas to "make America great again" is to launch a wave of tariffs on imported goods.
Trump threatened China that if it were to step into Taiwan, he would impose tariffs of 150%-200% on Chinese exports. Regardless of whether an attack on Taiwan would occur, he also promised that Chinese goods imported into America would have 60% tariffs.
Money.pl reported that the American think tank Tax Foundation estimated that fulfilling Donald Trump's campaign declarations would decrease GDP by at least 0.8% and reduce employment by 684,000 full-time jobs. "Our estimates do not account for the effects of retaliation or additional damage that would result from starting a global trade war," the analysis stated.
