China 'Will Never Never Yield' To Trump Tariff Pressure Says Former Deputy Finance Minister
April 16, 2025
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9:47Now PlayingChina 'Will Never Never Yield' To Trump Tariff Pressure Says Former Deputy Finance Minister
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as posted by the channelChina’s Former Deputy Finance Minister Zhu Guangyao discussed the trade war, yuan devaluation, China’s GDP, and the recent treasury selloff in an interview with Bloomberg Television’s Chief International Correspondent for Southeast Asia, Haslinda Amin, on her show Insight.
The interview aired just before Bloomberg’s exclusive report revealed that China is seeking several concessions from President Donald Trump’s administration before agreeing to resume trade talks. According to a source familiar with the Chinese government’s position, these include a demand for greater respect—specifically, curbing disparaging remarks made by members of Trump’s cabinet.
Other conditions include a more consistent US position and a willingness to address China’s concerns around American sanctions and Taiwan, said the person, who asked not to be identified to discuss internal thinking.
Beijing also wants the US to appoint a point person for talks who has the president’s support and can help prepare a deal that Trump and Chinese leader Xi Jinping can sign when they meet, the person said.
Xi Jinping
The fate of the global economy and financial markets hinges in large part on whether the US and China can find a way to avoid a protracted trade war. Trump has hit China with tariffs of 145% on most goods since taking office, prompting Beijing to retaliate and threatening to wipe out most trade between the world’s biggest economies.
The offshore yuan gained 0.2% against the dollar in the wake of the report. The Australian dollar, a China-proxy currency, also advanced 0.5%. S&P 500 Index futures pared losses from as much as 1.6% earlier in the session.
The rapid onslaught of US tariffs has engendered broad public support in China for retaliation, giving Xi a political incentive to rebuff Trump’s repeated demands for a phone call. The US leader on Tuesday again called on China to reach out to him in order to kick off negotiations to resolve the trade fight.
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