While Trump’s setback is a win for Xi, Chinese officials, like others around the world, have been cautious in their reaction. Morgan Stanley estimates that the average US tariff on China stands at 24 percent. Either way, the impact of US tariffs for Beijing was already blunted last year by exporters diversifying into other markets. While the Chinese side might have more room to bargain, Trump has threatened new tariffs to gain leverage ahead of key meetings, and did so before his previous summit with Xi in October. Although it did not manifest, his initial threat of an additional 100 percent tariff on China roiled equity markets and commodities.

Source: Taipei Times February 24, 2026 17:44 UTC