On Monday, Chinese officials, social media influencers, and state-run media began framing the recent trade agreement with the United States and the accompanying 90-day suspension of tariffs as a significant victory for Beijing, claiming it is a testament to their robust negotiation tactics.
They assert that Beijing’s steadfast public stance played a crucial role in reaching the deal with American representatives in Switzerland, achieving this with relatively minimal concessions.
“China’s firm countermeasures and resolute stance have been highly effective,” stated a social media account affiliated with China’s state broadcaster, CCTV.
According to perceptions in China, negotiators have successfully persuaded the Trump administration to reduce the imposed 145% tariff rate primarily down to 30%.
In return, China has committed to easing the majority of its retaliatory tariffs against American imports.
Social media platforms in China are abuzz with praise for the deal. A popular hashtag, #USChinaSuspending24%TariffsWithin90Days, has amassed over 420 million views on Weibo, referencing a 24% figure mentioned in the joint statement released by both nations.
The overall agreement will see U.S. import tariffs drop from 145% to 30% on Chinese items, while Chinese tariffs on American goods will fall from 125% to 10%.
Chinese internet user Chun Feng Yi Ran commented, “Our ancestors didn’t cave in, why should we give up what we have?” This remark has gained thousands of likes.
Simultaneously, Beijing is leveraging the trade deal to present itself as a responsible trading partner to the global market, despite its negotiation tactics often causing frustration among international businesses and trade allies.
Foreign executives frequently express “promise fatigue” regarding Beijing’s approach, as Chinese officials typically prefer dialogue over decisive action.
Consistent with its traditional negotiation style, Beijing has indicated it will collaborate with the Trump administration on a new “consultation mechanism” aimed at continually addressing trade and other economic matters.
The terms established in Geneva are set to go into effect on Wednesday, although Beijing has been discreetly granting exemptions to certain companies before the discussions commenced.
China has also vowed to implement all necessary measures to suspend or eliminate non-tariff counteractions, including curbs on rare earth exports that have been enforced recently, which are vital for U.S. industries.
However, mixed signals emerged from China regarding its cooperation on rare earth metals. The Commerce Ministry reiterated its commitment to tackling rare earth smuggling due to national security concerns, attributing some of the issues to “foreign entities.”
The recent U.S.-China trade agreement has provided a temporary reprieve from the intensifying trade conflict affecting the global economy.
Following the announcement of the agreement, global stock markets experienced a notable surge on Monday.
Despite the upcoming negotiations in Switzerland, Beijing held firm to its core priorities without yielding to pressures from U.S. officials.
“We will resolutely safeguard our legitimate interests and uphold international fairness and justice,” declared Foreign Ministry spokesman Lin Jian prior to the trade discussions.
On Monday, the Commerce Ministry described the trade deal as an “important step,” while subtly criticizing the Trump administration for needing to “correct its unilateral tariff practices.”
Meanwhile, officials from the Trump administration are branding the agreement as a “historic trade win” for the United States.
The two nations are anticipated to reconvene in the coming weeks to negotiate a “more comprehensive agreement,” according to Treasury Secretary Scott Bessent, who shared this update during Finance Newso’s “Squawk Box.”
Finance Newso’s Eunice Yoon reported from Beijing and Erin Doherty reported from Washington, D.C.
