Xi Courts Global Business Titans as Trump Escalates Trade War

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(GudangMovies21) -- During a gathering with several global business executives in Beijing, Chinese President Xi Jinping pledged to enhance market accessibility. This commitment aims to bolster investment confidence amid growing tariff tensions that are introducing unpredictability into both the domestic economy and worldwide commerce.

On Friday, Xi informed over 40 executives from firms across various sectors including finance, manufacturing, and technology that China looks forward to their investments. He additionally recognized that geopolitical elements—which he referredated to as "distractions"—have impacted these businesses' operations within his nation recently.

All of you are invited to maintain open channels of communication with us," Xi stated at the Great Hall of the People, commending the business leaders for their contributions to China’s development and employment creation. "Foreign enterprises play a crucial role in advancing China’s modernization.

The number of participants exceeded twice that of the previous year’s event, when Xi met Around 20 primarily U.S.-based business leaders were brought in to bolster trust in the globe's second-biggest economy. In contrast to 2024, he allowed journalists to enter the chamber where he delivered his final comments.

This move seems intended to demonstrate transparency as the US does. ramps up Protectionist actions aimed at both opponents and partners, including a 25% tax on imported vehicles and possible new duties on the European Union and Canada, escalating an already disruptive trade conflict.

During his address, Xi stated that disagreements between China and the U.S. ought to be handled via dialogue and urged businesses to collaborate with China in maintaining the worldwide economic framework, subtly criticizing the Trump administration’s trade policies.

“Blowing out another lamp won’t make your own glow brighter, blocking another’s path and you will ultimately block your own,” Xi said, calling on the firms to help maintain stable industrial and supply chains.

The participants come from firms based in nations such as the U.S., European countries, Japan, and South Korea. Some of their opinions were noted by Xi, who mentioned that the Chinese government would "look into" these perspectives. High-ranking Chinese authorities responsible for economic matters, financial policies, international commerce, and overall national progress took part in this gathering, underscoring how significant Xi deemed the occasion.

Weakening economic growth and increasing geopolitical strains have diminished the attractiveness of investing in the Asian country. Last year saw a sharp decline in incoming investments, reaching their lowest point in more than thirty years.

Additional challenges might arise next month, when the US plans to finish evaluating whether Beijing is adhering to the Phase One trade agreement made during former US President Donald Trump's tenure and intends to enforce reciprocal tariffs worldwide.

Chinese Premier Li Qiang stated on Sunday that the nation is ready for "unexpected shocks" as the administration aims for a robust economic growth rate of around 5% this year. According to economists, achieving this objective could require Beijing to release trillions of yuan in stimulus measures should trade duties rise significantly.

China’s engagement with prominent business leaders highlights its messaging that the country remains open for commerce—positioning itself against Trump’s more isolationist "America First" approach.

Beijing is likewise attempting to position itself as a champion of private business, highlighted by Xi’s prominent meeting last month with entrepreneurs such as Jack Ma, the co-founder of Alibaba Group Holding Ltd.

Many global CEOs had traveled to China for the annual China Development Forum and the Boao Forum for Asia, which concludes on Friday. The meeting marks an upgrade from earlier years when China’s No. 2 official met executives on the sidelines of the CDF, although Xi broke precedent last year to meet a group of US businesspeople.

Republican Senator Steve Daines, who serves on the Foreign Relations Committee, held meetings with various Chinese officials this week, including Premier Li. This encounter is being viewed as an early move toward arranging a summit between Xi and Trump.

A number of American companies have found themselves entangled in the worsening relationship between their country and China. This month, officials called in representatives from Walmart Inc., following allegations that they requested suppliers cover escalating expenses due to heightened US tariffs. Previously, under new tariff measures imposed by the U.S., Beijing had added PVH Corp., which owns Calvin Klein, along with US-based genetic analysis firm Illumina Inc., to what’s known as an entity list.

(Updated with additional details throughout.)

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