China Unites Private Sector to Tackle US Tariffs

China's National Development and Reform Commission hosted a meeting with private companies to address challenges posed by increased US tariffs. The gathering focused on strategies to stabilize China's employment and economy amid rising tensions. The commission promised support for the private sector against external pressures.

China's state planner announced a strategic meeting with key private domestic companies, including Trina Solar, Didi, and Goertek, to deliberate over the growing pressure from additional US tariffs.

The assembly, held in Beijing, was overseen by Zheng Shanjie, chairman of China's National Development and Reform Commission (NDRC). It occurred as a direct response to President Trump's tariff escalation, which threatened US imports with tariffs potentially reaching over 100%.

Participants at the meeting voiced their strategies on ensuring stability in China's employment landscape and addressing external economic challenges. The NDRC committed to supporting the private sector, emphasizing unity and strong decision-making to face these obstacles.

(With inputs from agencies.)