China has appointed a new top international trade negotiator today amid tariff tensions with the United States. The government said that Li Chenggang has been appointed to replace Wang Shouwen, who participated in the trade negotiations for the 2020 trade deal between the China and the U.S.
The world’s two largest economies have been steadily increasing tariffs on each other’s goods since the US raised tariffs on dozens of countries. China is currently facing 145 per cent taxes on exports to the US, while other countries were given a 90-day reprieve for most duties. Earlier, China announced its economy expanded at a 5.4 per cent annual pace during January to March, supported by strong exports. Analysts are forecasting that the world’s second largest economy will slow significantly in coming months.
