Chinese President Xi Jinping recently met with global executives and encouraged investment in China as trade tensions with the U.S. escalate. He emphasized the importance of multinational companies upholding global order and working together with China. Xi assured foreign companies that China is a safe and stable place for investment, highlighting the country’s commitment to providing fair opportunities for foreign businesses to participate in government procurement bids.
The roundtable meeting with Xi included foreign executives like Ray Dalio, Bill Winters, and Steve Schwartzman. President Trump has increased tariffs on China, citing its alleged role in the fentanyl crisis, and has threatened additional tariffs on major trading partners. Xi stated that trade tensions should be resolved through negotiations and emphasized the importance of global supply chain stability.
China has been increasing trade with Southeast Asian countries and the EU, but the U.S. remains its largest trading partner on a single-country basis. China is actively seeking to offset trade pressures by engaging with major U.S. businesses at a state-backed annual conference. U.S. Senator Steve Daines met with Chinese Premier Li Qiang in Beijing, marking the first visit by a U.S. politician to China since Trump’s latest term began.
Li emphasized the need for cooperation, stating that no one benefits from a trade war. Executives from companies like FedEx, Pfizer, Qualcomm, and Boeing, as well as U.S.-China Business Council President Sean Stein, were present at the meeting with Li. This meeting is seen as a precursor to a potential meeting between Xi and Trump in the future.
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