China's trade war perspective

The Indicator from Planet Money

NPR

Business

4.7 • 9.2K Ratings

🗓️ 22 April 2025

⏱️ 10 minutes

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Summary

By now, you've heard a lot about how the U.S.-China trade war is affecting American consumers, businesses and the stock market. But how is the trade war being felt in China? Today on the show, two of NPR's in-house China experts, Emily Feng and John Ruwitch, explain the view from China.

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Transcript

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0:00.0	NPR.
0:02.0	This is the indicator from Planet Money. I'm Adrienne Ma.
0:15.0	As we're all probably aware by now, the world's two largest economies are locked in a high-stakes economic standoff.
0:22.0	Let's recap. It started in early February.
0:24.5	The president will be implementing tomorrow.
0:26.7	A 10% tariff on China.
0:29.2	Then China hit back with retaliatory tariffs.
0:31.8	China says it will counter U.S. President Donald Trump's tariffs with its own import fees.
0:37.4	A couple months later, so we're going to be charging a discounted reciprocal tariff of
0:42.5	34 percent, I think.
0:43.9	To which China responded.
0:45.7	Saying that it will impose additional tariffs on U.S. goods from April 10th at a rate of 34
0:52.1	percent.
0:53.1	Uh-oh.
0:53.9	And around and around, it's gone.
0:55.9	The United States will impose additional tariffs on China of 50%.
1:00.6	Beijing announced it will impose 84% tariffs.
1:04.0	As it stands, the U.S. has a 145% tariff on Chinese goods, and China has a 125% tariff on U.S. goods. And just yesterday, China
1:13.8	threatened to retaliate against other countries if they cut a trade deal with the U.S. that hurts
1:18.6	China. Now, we've heard a lot about how this trade war has been affecting U.S. businesses and U.S.
1:25.4	consumers, but how is this trade war being felt in China?
1:29.7	And what is the end game for Chinese President Xi Jinping?
	...

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