On Wednesday, China announced that it has a new trade representative. This comes as the country tries to respond to tough tariffs from US President Donald Trump that have shaken global markets.
Li Chenggang is now in charge of international trade talks and is the vice minister of commerce. The information was shared by China’s human resources ministry on its website.
Li, who is 58 years old, has worked as China’s ambassador to the World Trade Organization and has held several roles in trade. He studied law at Peking University in China and the University of Hamburg in Germany. He replaces Wang Shouwen, who was involved in the 2020 trade deal with the US.
Since Trump started imposing tariffs, which hit Chinese imports hard, tensions have risen between China and the United States. The tariffs have led to high penalties — US tariffs on China are at 145 percent, and China’s tariffs on US goods are at 125 percent.
China reported that its economy grew by 5.4% in the first quarter, which is better than expected, but officials also said that the US tariffs are putting pressure on their economy.
Leave a Reply