May 2nd, 2025
Create an account or log in to unlock unlimited access!
China chose a new main person for trade talks on Wednesday. This happened because China and the U.S. are still having problems with taxes on goods.
The government said that Li Chenggang will take the place of Wang Shouwen. Wang Shouwen was in the trade talks between China and the U.S. in 2020.
The two biggest economies in the world have been putting more taxes on each other's products for a while now.
On Wednesday, China said its economy grew by 5.4% in the first three months of the year. This was helped by selling many things to other countries. But experts think China's economy will grow slower soon. This is because the U.S. will put new taxes on things it buys from China.
Exports helped China's economy grow by 5% in 2024. The government wants it to grow by about 5% this year too.
Beijing put high taxes on American goods. Beijing also said it wants to keep its markets open for buying and selling.
A government spokesperson said the new taxes will make China's economy a little difficult soon, but they will not stop its growth in the future.
It was not clear why China was changing the people who talk for them. This change happened when Chinese leaders said they had many ways to answer the US. They could use their big market of 1.4 billion people, or work more with Europe and countries in the south of the world. But because people in China are not buying much, it will be hard to find another buyer as good as the US.
China also put limits on selling some special materials called rare earths to other countries. These materials are used to make things like advanced technology, airplanes, and military items.
Before his new job, Li worked for about 4 and a half years as China's representative at the World Trade Organization. This group manages trade around the world, and China has asked it for help with their problem about taxes with the U.S.
He also worked for China at the United Nations in Geneva and other international groups in Switzerland.
He also worked as an assistant minister at the Ministry of Commerce. He was also the head of the ministry's Department of Treaty and Law.
Li studied law at Peking University in China and economics at the University of Hamburg.
May 2nd, 2025
Student Loan Payments Restart: Credit Scores Fall for Many People in the US
Student Loan Payments Restart: Credit Scores Fall for Many People in the US
Americans Buy Less: Worries Grow After Tariff Rush
Americans Buy Less: Worries Grow After Tariff Rush
Oil Price Rises Cause Stock Market Fall
Oil Price Rises Cause Stock Market Fall
People Feel Better About the Economy as Prices Stay Steady
People Feel Better About the Economy as Prices Stay Steady
JetZero: New $4.7 Billion Factory in North Carolina to Create 14,500 Jobs
JetZero: New $4.7 Billion Factory in North Carolina to Create 14,500 Jobs
Asian Stocks Fall, Oil Prices Rise After Attack in Iran
Asian Stocks Fall, Oil Prices Rise After Attack in Iran
US and China Agree to Talk About Trade Issues
US and China Agree to Talk About Trade Issues
Warner Bros. Discovery: Splitting into Two Companies for TV and Streaming
Warner Bros. Discovery: Splitting into Two Companies for TV and Streaming
States Try to Stop Sharing of DNA Data Without Your Okay
States Try to Stop Sharing of DNA Data Without Your Okay
Big Battery Factory Stop Building: Problems with Electric Cars and Taxes
Big Battery Factory Stop Building: Problems with Electric Cars and Taxes
Create an account or log in to continue reading and join the Lingo Times community!