China sees U.S. trade deal as win for Beijing

Chinese officials, influencers, and state-run media are hailing the recent trade agreement and 90-day tariff pause with the U.S. as a win for Beijing’s negotiating tactics.

They claim that their strong stance and countermeasures played a crucial role in reaching a deal with the U.S. while making limited concessions.

A China national broadcaster CCTV-linked social media account stated, “China’s firm countermeasures and resolute stance have been highly effective.”

Chinese negotiators convinced the Trump administration to reduce the imposed 145% tariff rate to 30%, in exchange for China reducing its countertariffs on U.S. goods.

Chinese social media users are celebrating the deal with hashtags like #USChinaSuspending24%TariffsWithin90Days gaining millions of views.

The 90-day pause will see U.S. import duties on Chinese goods drop from 145% to 30%, and Chinese tariffs on U.S. goods decrease from 125% to 10%.

Chinese social media users are echoing sentiments of national pride and resistance, with many emphasizing the importance of not giving in during negotiations.

Despite China’s often criticized negotiating tactics, Beijing is using this trade deal to portray itself as a responsible trading partner.

While foreign entities have expressed fatigue with Beijing’s promises, China has committed to establishing a new consultation mechanism with the U.S. for ongoing dialogue on trade and economic matters.

The trade measures agreed upon in Switzerland will officially begin on Wednesday, with Beijing already granting exemptions to some local companies.

China has also agreed to suspend or remove non-tariff countermeasures, including export curbs on rare earths crucial to the U.S. industry.

While reaffirming its crackdown on rare earths smuggling, China sent mixed signals on cooperation regarding these minerals.

The temporary relief brought by the U.S.-China trade deal has positively impacted global stock markets.

Leading up to the negotiations, Beijing remained steadfast in protecting its interests and upholding international fairness and justice.

Foreign Ministry spokesman Lin Jian reiterated China’s commitment to safeguarding its interests and promoting international fairness before the trade talks.

The commerce ministry described the trade deal as an important step while urging the U.S. to correct its unilateral tariff practices.

Trump administration officials view the deal as a historic trade victory for the U.S. and are looking ahead to further negotiations for a comprehensive agreement.

The two sides are set to meet again in the coming weeks to continue discussions on a broader trade deal.

— CNBC’s Eunice Yoon reported from Beijing and Erin Doherty reported from Washington, D.C.