China’s Premier Li Qiang stated on Tuesday (Dec 9) that the damaging effects of tariffs have become increasingly visible throughout 2025. He made these remarks at a “1+10 Dialogue” in Beijing, attended by the heads of major global institutions, including the International Monetary Fund, the World Trade Organisation, and the World Bank. Although he did not directly mention US President Donald Trump, Li emphasized that rising trade barriers highlight the urgent need to reform global economic governance.

Fresh trade data released on Monday revealed that China’s trade surplus surpassed US$1 trillion for the first time in November. Economists believe this record surplus is partly tied to Trump’s tariff policies, which have redirected Chinese exports away from the United States and into alternative global markets. This diversion, they argue, is placing added pressure on manufacturing industries in those countries as they absorb increased inflows of Chinese goods.

Li further warned that the threat of tariffs has overshadowed the global economy since the beginning of the year, creating uncertainty for governments and businesses worldwide. The meeting also included participation from senior representatives of the Organisation for Economic Co-operation and Development as well as the International Labour Organisation, reflecting broad international concern over rising protectionism.

Li highlighted the expanding role of artificial intelligence in global commerce. He pointed to Chinese AI models such as DeepSeek as examples of technological engines reshaping traditional industries, transforming production processes, and driving new growth in emerging sectors like intelligent robotics and advanced wearable devices.

Disclaimer: This image is taken from Reuters.