China's parliament meets to shield economy from US tariff salvos

5/3/2025 7:22

China's parliament begins its annual session on Wednesday with officials under pressure to tilt their fiscal resources towards consumers to make the economy more resilient in the face of rising U.S. trade tariffs and deflationary pressures.



Having only reached last year's economic growth target of roughly 5% with a late stimulus push, Premier Li Qiang is expected to lay out a similarly lofty, but even harder to reach goal for 2025 in front of the National People's Congress (NPC).



An escalating trade war with U.S. President Donald Trump's administration is threatening to crimp China's economic jewel, its sprawling industrial complex, at a time when persistently sluggish household demand and the unravelling of the debt-laden property sector are leaving the economy increasingly vulnerable.