Why China won’t call U.S. for now

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The last time Donald Trump and Chinese President Xi Jinping spoke was just before the presidential inauguration of the United States of January 20.

Less than two weeks after becoming president for the second time, Trump added 10% tariffs on Chinese products and said he would talk to XI in the next 24 hours.

“We call the White House.” How was the call? “The White House said:” “The Chinese did not call.”

“What has just been clearly clear from the beginning, the administration dramatically overestimately how the leverage rates of the party give China,” said the executive.

The United States increased new tariffs on Chinese products last week, from 145%.

After retaliation with a 125% increase in tariffs on US products, Beijing entered the weekend by calling tariffs a “game of numbers” who planned to ignore. That is according to a CNBC translation of the Chinese text.

Until now, both parties have publicly indicated little intention to take any first tangible step to resolve the point of the dead and limit the global economic consequences of Tit -for-Tat measures.

XI, who is now in an unprecedented third mandate as president of China, also shows that he is committed to challenging any perception that he is renouncing the United States, even if that means short -term pain for the economy. In the 70th anniversary of the rule of the Communist Party of China, XI proclaimed that “no force can stop the Chinese people and the Chinese nation.”

Trump, on the other hand, has receded even in some of the latest tariff plans, while affirming his final objective is to build the United States.

A confluence of economic and cultural differences has led to the confrontation, with China’s global positioning changing significantly in recent years.

“I think people in the United States, both investors and policy formulators, their mentality [on China] It is still something similar to 10 years, “Bruce Liu, CEO of the Capital Asotheric Asset Manager, said on Monday. He directs his time between New York and China.

China’s economic situation in 2018 meant that the country had to make a deal with Trump after bilateral tensions increased the duration of his first mandate, but Beijing is less right until this moment, Liu said. “They are not in a hurry to have a conversation or initiate a conversation with the American side at this time.”

The official position of Beijing has reinforced that thought, with spokesmen that emphasize that any conversation must be made on the basis of “mutual respect.” The advance of the Deepseek AI at the end of January has also fed belief in China that the country can resist US restrictions.

The available per capita income in China has increased by 38% since 2018. When I moved to the country that summer, Starbucks was, with much, the best option for coffee and most cars were fed by gasoline. Almost seven years later, artisanal coffee shops are the standard and also the Xiaomi smartphone company has electric cars in the streets.

That does not mean that everything has a pink leg.

The unfinished apartment buildings are scattered on the outskirts of large cities. It is difficult for companies trying to navigate COVID-19 restrictions and the economic slowdown of the sub-point. The frantic growth that I witnessed before the pandemic has gone largely.

The main Wall Street investment companies have reacted to escalation in commercial tensions between the United States and China by reducing their forecasts for Chinese economic expansion this year, with UBS reducing expectations of only a growth of 3.4% this year. For now, Beijing has maintained its goal of around 5% growth for the year, and indicated that it could increase the stimulus to support the economy.

But in the pockets of the economy, there is a persistence, continue trying despite the circumstances.

China’s global connections have also changed.

The country’s exports to the United States increased by 10% between 2018 and 2024, but China exports to the European Union increased by 26% time, while Asia increased by 84%, according to the CNBC analysis of official data. Southeast Asia is now the largest shopping partner in China, followed by the EU and then the United States

Part of that is the wording of trade to the US, but part of this also reflects a market abroad abroad for Chinese products, although with the risk of harming local companies and jobs.

Instead of talking with Trump, XI this week is making his first state visit abroad from 2025 to Southeast Asia: Vietnam, Malaysia and then Cambodia. The Chinese state media described trips as “by invitation” of the local government, echoing the majestic language used when XI lasts the United States in November 2023 to meet with the president of the United States, Joe Biden.

XI also with American, European and Middle East business executives in Beijing at the end of March. He asked them to “defend” the global order, as he told the Secretary General of the Communist Party of Vietnam that Lamb in a meeting on Monday is the stability of the global supply chain of the two countries and opposes the “unilateral harassment.” That is according to a CNBC translation of Chinese reading, which does not name the United States

Trump described this week at China’s meeting with Vietnam an effort to “fuck” the United States, refused to share an update about any conversation planned with XI.

Vietnam this month was slapped with one of the highest “reciprocal” “reciprocal” rates of the United States, also more than China, initially in response to which the prime minister of the Southeast Asian country, Pham Minh Chinh, offered to buy more a 45 negotiated days.

Trump then temporarily lowered tariffs on Vietnam and other countries with a 90 -day negotiation period. China was not included.

“If you’re a child for me, I’m going to be twice with you. That’s [being] Chinese, “Liu said.

“But if you want to intimidate me, we are not going to take that. We know that this could cause difficulties in our economy or in our daily lives, but we are ready for that,” he said about the typical Chinese mentality.

China reported the GDP of the first quarter or 5.4%. That figure exceeds the expectations of analysts of an increase of 5.1%. Retail sales and industrial production figures also arrived well above forecasts. The country’s loan data for March came better than expected, mainly due to the growth of short -term corporate loans, Chordination to Goldman Sachs.

Kling, a video generator with Kuaishou, has an update of Gooths. The Chinese Short Video Company announced the news in Beijing on Tuesday, and states that the new version offers better control over the visualizations of people, emotions and scenes to imitate real world scenarios.

The United States is exempting electronics made by China from the highest rates. However, it is not clear how long the postponement will last. China and Vietnam signed agreements on rail cooperation and protocols to accelerate bilateral trade, according to the country of Southeast Asia. China has also changed to its commercial negotiator of the Ministry of Commerce in recent years with a new face.

Chinese and Hong Kong actions were negotiated in red on Wednesday even when China published GDP data better than expected. This occurs when an increasing number of investment banks reduces the country’s annual growth perspective.

The CSI 300 of Continental China decreased by 0.74%, while the Hang Kong Hang Seng index, which covers several important Chinese companies, fell around 2% of the axis or 10:42 am local time.

The 10 -year -old reference Chinese bond performance was the last one at 1,639%.

The Chinese yuan on the high seas is traded at 7,3276 against the Back Greenback.

April 18 to 26: Beijing’s International Film Festival begins

April 19: China organizes what it states is the “First Humanoid Robot Marathon in the world” in Beijing

April 21: People’s Bank of China will issue its monthly decision on the reference loan rate

April 23 – May 2: Shanghai Auto Show