Despite the powerful strength shown at the National People’s Congress, Trump’s trade war is imminent, although

Beijing – China has resisted President Trump’s trade war, and Mr. Trump is not used to it. Now facing 20% tariffs on various U.S. exports, Beijing has refused to back down despite its own economic problems, and is Hit the United States with your own retaliatory tariffs. Beijing’s atmosphere of power was clearly expected when it opened on Wednesday.
Thousands of delegates from all over the country landed on Tiananmen Square in the central Chinese capital. They came to Beijing in their outfits, including some in traditional costumes, to participate in the most important events in the Chinese political calendar. But for members of the Chinese rubber band legislature, some topics are clearly unrestricted when talking to CBS News.
When asked, they might be Trade war between the world’s two largest economiesor whether Trump and President Xi Jinping can overcome their differences.
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Once inside the people’s sponge hall, the camera turned to the main event. Although NPCs are focused primarily on China’s slow economy, this year’s discussions and public declarations have been overshadowed by geopolitical events, especially the trade war with the United States.
President Xi Jinping’s administration announced retaliatory tariffs on the United States the day before the NPC opened, and he was an observer for Wednesday’s big gathering. His Deputy Prime Minister Li Qiang delivered a keynote speech.
He announced an ambitious GDP growth target is 5%, and more fiscal resources aimed at stimulating the economy are invested, in addition to the lasting consequences of the real estate crisis, which involves weak youth unemployment and consumer spending.
Lee acknowledged that the geopolitical tensions facing China, including references to the escalating trade war, showed no signs of relief, at least from the public’s perspective.
But, at least in speaking with CBS News, some Chinese representatives in attendance tried to remain hopeful.
“As this competition continues, we will have a point where we can achieve a good solution.”
While many Chinese hope that Beijing and Washington will eventually reach a trade deal, it is worth noting how the stock markets in both countries have reacted to the Tit-Tat tariffs so far: Chinese stocks overall rose about 15% from the beginning of the year, while the U.S. market has almost fallen by 2%.
This is another sign – perhaps more illustrative than the NPC podium rhetoric – conviction that China, the country’s economy will be able to manage everything Mr. Trump has given.
CBS News’ Leigh Kiniry and Qian Zhao contributed to the report.