Xi extends an olive branch to Trump amidst 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 emphasized 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
"A stable, healthy and sustainable China-U.S. relationship is in the common interest of both countries and is in line with the expectations of the international community," Xi wrote in a congratulatory telegram to Trump.
The Chinese leader hoped the two countries could "find a correct way... to get along in this new era, to benefit both countries and the world," and strengthen dialogue and communication.
In the same dispatch, Xinhua reported that Han Zheng, vice-chairman of the People’s Republic of China, congratulated Vice President-elect James Vance separately.
On Wednesday evening Eastern Time, the Chinese Ministry of Foreign Affairs published a one-sentence statement: "We respect the choice of the American people and congratulate Mr. Trump on his election as 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 for " making America great again" is to impose 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.
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 capture the effects of retaliation, nor the additional harms that would stem from starting a global trade war," the analysis stated.
