China shrugs off threat of U.S. tariffs to economy, says it has tools to protect jobs

China's leaders reassure public on trade war impact, promising support for companies, jobs, and economic growth.

China's leaders are downplaying the potential impact from U.S. President Donald Trump's trade war, saying they have the capacity to protect jobs and limit damage from higher tariffs on Chinese exports.

The briefing on Monday (April 28, 2025) by several senior officials of various government Ministries appeared aimed at shoring up confidence with promises of support for companies and the unemployed, easier lending conditions and other policies to counter the impact of combined tariffs of up to 145% on U.S. imports from China.

It followed a meeting of China's powerful Politburo last week that analysts said had focussed on ways to counter keep growth on track despite slowing exports.

Donald Trump signals China tariffs will come down, says he won’t fire Fed chief

“Chinese policymakers are on heightened standby mode,” Louise Loo, lead economist at Oxford Economics said in a a report. She noted that the policies were similar to earlier pronouncements.

Uncertainty persists over the status of exchanges, if any, between the White House and Chinese leader Xi Jinping. U.S. President Donal Trump said last week that he's actively negotiating with the Chinese government on tariffs — while U.S. Treasury Secretary Scott Bessent said talks have yet to start.

Beijing denied that any such talks were under way and China has retaliated against Mr. Trump's tariffs by putting 125% import duties on products from the U.S., among other measures.