Xi Jinping Addresses Tariff Truce Amid Rising Global Economic Tensions

BEIJING, China — President Xi Jinping of China delivered a speech on May 13, 2025, during the opening ceremony of the China-CELAC Forum ministerial meeting, addressing the recent 90-day truce in tariff disputes between the U.S. and China. Xi criticized ‘bullying’ and ‘hegemonism,’ indirectly referring to U.S. tariff policies.

In his remarks, Xi emphasized that ‘bullying or hegemonism only leads to self-isolation.’ He reiterated China’s stance, asserting that in conflicts such as tariff wars, there are no winners. This statement aligns with China’s long-held view regarding U.S. trade practices.

The truce, announced a day prior, involves both countries reducing their tariffs for a 90-day period following negotiations in Geneva, Switzerland. As part of the agreement, the U.S. will lower tariffs on Chinese goods from 145% to 30%, while China will cut its tariffs on American products from 125% to 10%.

Meanwhile, economic indicators reflect the ongoing struggle related to tariffs. The Bureau of Labor Statistics announced that the consumer price index rose by 0.2% in April, showing a yearly increase of 2.3%. These figures were slightly below economist predictions.

American farmers expressed skepticism about the truce’s effectiveness in improving sales. Caleb Ragland, president of the American Soybean Association, stated that U.S. soybean products remain at a disadvantage compared to competitors from Brazil and Argentina. ‘The tariff that remains in place for U.S. soy is far from inconsequential,’ Ragland noted.

As the economic landscape evolves, Xi’s strong rhetoric underscores China’s position on global trade dynamics. With large economies like the U.S. and China re-evaluating their trade strategies, the impact of these decisions will continue to shape international relations and commerce.