China has announced a wide-ranging “special action plan” to promote domestic spending, in an effort to counter the economic impact of tariffs imposed by US President Donald Trump.

China has unveiled a 30-point plan to boost consumer spending — a task that has become ever more urgent since President Donald Trump ignited a trade war.

The plan comes as levels of consumer demand in China have suffered various setbacks in recent years, due to factors such as COVID-19 disruptions and a prolonged property slump, chilling the propensity of households to spend and adding to deflationary trends.

F or Global companies, there is no place quite like America. As growth in China and Europe has slowed, its economy has continued expanding at a decent clip. America remains by far the world’s biggest consumer market, accounting for almost 30% of total spending, and is home to the largest stock of foreign direct investment ( FDI ), at around $5trn.

President Donald Trump has said he doesn’t intend to create exemptions from steel and aluminum tariffs and that additional sectoral, as well as reciprocal tariffs will be imposed on April 2.

In a bold move, President Donald Trump has imposed a 25% tariff on imports from Mexico and Canada, sparking concerns across financial markets and among consumers. While Canadian energy enjoys a slight reprieve with a 10% tariff,

China’s exports to developing markets have soared, opening indirect routes to the U.S. market that officials in Beijing worry may be closed under pressure from President Trump.

U.S. President Donald Trump threw a curve ball at China by linking the fentanyl issue to his tariffs on imports. The Chinese government is swinging back.

SINGAPORE—China reported surprisingly robust economic activity to start the year, giving Beijing some wind at its back as it faces the prospect of increased tensions with President Trump’s second administration.