The relationship between China and the United States has long been the cornerstone of global economic stability and growth. However, recent years have witnessed repeated strains on this vital axis, particularly due to the aggressive tariff measures and trade restrictions imposed by the United States. On April 22, 2025, US President Donald Trump made headlines by stating that a 145 percent tariff on Chinese goods was “very high” and hinted that once a new agreement with China is reached, these tariffs would be “substantially” lowered. He even optimistically projected a future where China and the US would “live together very happily” and work in partnership.

Echoing this tone, US Treasury Secretary Scott Bessent stressed that Washington does not seek a full “decoupling” from China, acknowledging that the ongoing trade war is “unsustainable” and promising an imminent de-escalation. Such remarks quickly captured the international community’s attention, with observers noting a possible turning point in the turbulent China-US economic relationship.

In response, China’s Foreign Ministry made it clear that if the US truly desires a negotiated solution, it must abandon its strategy of threats and coercion, and instead pursue dialogue based on mutual respect, equality, and mutual benefit. This call reflects the longstanding Chinese position that lasting agreements must be built on sincerity and fairness, not intimidation.

The US-initiated tariff war has already left deep scars on both countries’ economies, and its disruptive effects are increasingly visible across the global market. The US itself is now grappling with the consequences of its own policies. Concerns over a looming recession, coupled with persistently high inflation, have set off alarms across sectors. According to the Peterson Institute for International Economics, US economic growth in 2025 is projected to plunge to just 0.1 percent from 2.5 percent the previous year-a dramatic slowdown that highlights the urgency for policy change.

American lobbying groups representing agriculture, construction, manufacturing, retail, and technology have grown louder in their demands for tariff relief. They argue that the current trade environment is damaging American workers, worsening inflation, and stalling economic growth. A CNBC survey recently revealed that majorities across key industries view tariffs as harmful to the American economy. These pressures have already influenced markets: US stock indexes rebounded sharply after hints of tariff reductions, while European and Asian markets also posted strong gains, showing the global appetite for de-escalation.

All these developments point toward a simple, undeniable truth: the world wants cooperation, not confrontation, between China and the United States. Economic globalization is not just an abstract ideal; it is an irreversible historical trend that reflects the interconnected realities of modern production, consumption, and innovation.

The foundation of China-US economic relations has always been mutual benefit and win-win cooperation. Despite the recent turbulence, this fundamental nature remains unchanged. China has consistently maintained that trade wars yield no winners, and protectionism leads only to economic isolation and decline. The idea of “decoupling” the two economies is not only impractical but also self-defeating for the US itself.

Indeed, the US’ mistake lies not only in setting tariffs at a damaging 145 percent but more deeply in the flawed belief that threats and economic coercion can produce favorable negotiation outcomes. History repeatedly shows that trade protectionism fails to rejuvenate economies; instead, it harms domestic industries, undermines global investment confidence, and risks triggering worldwide economic crises.

A true “big deal” between China and the US must therefore be based on several principles:

Mutual Respect: Both sides must recognize and respect each other’s core interests and major concerns. Attempting to force concessions through economic pressure undermines the very spirit of negotiation.

Peaceful Coexistence: The world’s two largest economies must coexist peacefully, avoiding the temptation to view economic relations through a lens of zero-sum rivalry.

Win-Win Cooperation: Agreements should create shared benefits, fostering broader cooperation not only in trade but across technology, energy, public health, and environmental protection.

Both China and the US have historically contributed to the establishment and maintenance of multilateral economic and trade rules. The US, once a chief architect of the post-war economic order, and China, an active and committed participant in globalization, have both benefited immensely from stable, rule-based international systems. These rules have reduced costs, improved efficiency, and offered a measure of fairness and predictability that fuels global commerce.

Thus, it is in the best interests of both nations-and the wider world-that the US and China work together to uphold and improve this system, rather than undermine it. Only by doing so can they ensure their own prosperity and fulfill their responsibilities as major global powers.

As a Chinese proverb wisely puts it, “We do not only listen to what one says but also watch what one does.” The world is watching closely. Rhetoric about cooperation must be matched with tangible actions: reducing tariffs, refraining from economic bullying, and reestablishing open and respectful dialogue.

The significance of a healthy China-US economic relationship extends far beyond the borders of the two nations. Global supply chains, investment flows, financial markets, and technological innovation hubs all hinge on the stability of this relationship. Turbulence between China and the US can ripple through emerging markets, destabilize currencies, disrupt industries, and worsen geopolitical tensions elsewhere.

Conversely, a stable, cooperative China-US partnership would offer enormous dividends: boosting global confidence, spurring new waves of trade and investment, and reinforcing global efforts on challenges ranging from climate change to public health.

It is not only policymakers and businesses who yearn for this outcome-ordinary citizens in both countries, and indeed around the world, have much to gain from a more constructive China-US relationship.

If the US truly wishes to build a sustainable, future-oriented relationship with China, it must move away from the failed tactics of maximum pressure and unilateralism. It must return to the negotiating table with sincerity, fairness, and respect.

China, for its part, remains ready to engage in equal-footed dialogue and consultation. A real “big deal” must not merely be about trade figures or tariffs; it must be about establishing a foundation of trust and cooperation for decades to come.

The choice is clear. In an interconnected world, cooperation is not a luxury-it is a necessity. Only by pulling in the same direction can China and the US jointly ensure the healthy, stable, and sustainable development of bilateral relations and make a profound contribution to global peace and prosperity.

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Source: Weekly Blitz :: Writings