Source: People’s Republic of China – State Council News
BEIJING, March 5 — China opposes unilateralism and protectionism in all forms, and will uphold international fairness and justice, according to a government work report submitted Wednesday to the national legislature for deliberation.
The country will stay committed to an independent foreign policy of peace and to the path of peaceful development, said the report.
Source: People’s Republic of China – State Council News
BEIJING, March 5 — China will introduce city-specific policies on adjusting or reducing property transaction restrictions to make continued efforts to stem the downturn and restore stability in the real estate market, according to a government work report submitted Wednesday to the national legislature for deliberation.
Source: China State Council Information Office 2
An aerial drone photo taken on Jan. 8, 2024 shows robotic arms processing parts for new energy vehicles at a private company in Changxing Economic and Technological Development Zone, Huzhou City, east China’s Zhejiang Province. [Photo/Xinhua]
China targets an economic growth rate of around 5 percent in 2025, according to a government work report submitted Wednesday to the national legislature for deliberation.
The report also outlines an array of other key development goals for this year, including a surveyed urban unemployment rate of around 5.5 percent, over 12 million new urban jobs, and an around 2 percent increase in the consumer price index.
The country achieved economic growth of 5 percent in 2024 as an impactful policy package, along with other pro-growth measures, helped fuel strong economic momentum.
On a global scale, an around 5 percent growth rate places China among the world’s fastest-growing major economies, with the economic increment equating to the annual output of a mid-sized nation.
Huang Qunhui, a national political advisor from the Institute of Economics of the Chinese Academy of Social Sciences, described this year’s economic growth target as scientifically grounded and realistic.
“In the face of a challenging global environment, the proactive and resilient goal suggests that China is braving uncertainties with a clear, determined approach to growth,” he said.
As 2025 marks the final year of China’s 14th Five-Year Plan (2021-2025) period and is also crucial to crafting the next five-year blueprint, observers believe that the government policies will not only drive sustained growth this year but also lay the groundwork for the country’s modernization drive in the long run.
Fostering high-quality development is a key focus on this year’s government agenda, with priorities ranging from stimulating domestic demand to developing new quality productive forces.
“We will take a people-centered approach and place a stronger economic policy focus on improving living standards and boosting consumer spending,” the report said.
Domestic demand will be made the main engine and anchor of economic growth, the report said. Ultra-long special treasury bonds totaling 300 billion yuan will be issued to support consumer goods trade-in programs.
New quality productive forces will be nurtured in light of local conditions, according to the report. China aims to foster emerging and future industries, such as quantum technology and the low-altitude economy, accelerate the upgrading of traditional industries, and combine digital technologies including AI with manufacturing and market strengths.
Source: China State Council Information Office 2
China on Wednesday announced a 7.2-percent increase in its 2025 national defense budget.
The planned defense expenditure of the country will be 1.784665 trillion yuan (about 249 billion U.S. dollars) this year, according to a draft budget report submitted to the national legislature for deliberation.
Source: China State Council Information Office
Mexican President Claudia Sheinbaum on Tuesday urged Mexicans, including those in the United States, to unite against the Trump administration’s 25-percent tariffs on the country’s exports.
“I call on all Mexicans to stand together. This is a time to defend our sovereignty,” Sheinbaum said from the National Palace, calling the move unilateral and a breach of the existing trade agreement.
She said that Mexico will respond with tariff and non-tariff measures, to be detailed in a public assembly in the Zocalo square in central Mexico City on Sunday. She rejected a trade war, emphasizing the need for economic integration to strengthen North America’s competitiveness.
Sheinbaum also urged Mexicans in the United States to pressure lawmakers against the tariffs, warning of economic harm. She stressed the importance of diplomatic dialogue to protect Mexicans in the United States, who are vital to both economies.
“We will overcome this because our greatest strength is our people,” she said.
Source: China State Council Information Office
An employee removes U.S. alcohol products from a shelf at a Liquor Control Board of Ontario store in Oakville, Ontario, Canada, on March 4, 2025. [Photo/Xinhua]
The Canadian federal government on Tuesday announced a detailed tariff package after Prime Minister Justin Trudeau vowed that Canada will not back down from a fight against the trade war initiated by U.S. President Donald Trump.
According to a news release issued by the Finance Ministry, the first phase of Canada’s response includes tariffs on 30 billion Canadian dollars (about 21 billion U.S. dollars) in goods imported from the United States, effective as of 12:01 a.m., March 4. The list includes products such as orange juice, peanut butter, wine, spirits, beer, coffee, appliances, apparel, footwear, motorcycles, cosmetics, and certain pulp and paper products.
The additional countermeasures on 125 billion Canadian dollars (about 89 billion U.S. dollars) in imports from the United States would be from a list of goods open for a 21-day comment period which includes products such as electric vehicles, fruits and vegetables, beef, pork, dairy, electronics, steel, aluminum, trucks, and buses, the release said.
The government is also taking steps to mitigate the impact of these countermeasures on Canadian workers and businesses by establishing a remission process to consider requests for exceptional relief from the tariffs, the release said.
All options remain on the table as the government considers additional measures, including non-tariff options, the release said.
Trudeau said during his speech to the nation earlier in the day that Canada will also be challenging the U.S. illegal actions by filing dispute resolution claims at the World Trade Organization and through the Canada-U.S.- Mexico Agreement, or the free trade mechanism in North America that was renegotiated by Trump in his last term.
The counter tariffs will remain in place until the U.S. tariffs are withdrawn and not a moment sooner, said Trudeau.
Source: China State Council Information Office
European Commission President Ursula von der Leyen speaks during a press conference after a European Council summit in Brussels, Belgium, Dec. 19, 2024. [Photo/Xinhua]
European Commission President Ursula von der Leyen on Tuesday unveiled an 800-billion-euro (844.6-billion-U.S. dollars) plan to significantly increase defence spending across the bloc.
She said that in response to escalating security threats across the European Union (EU), Europe had entered “an era of rearmament.”
In a letter written to EU leaders ahead of Thursday’s European Council, von der Leyen unveiled the “ReArm Europe” plan and emphasised the urgency of strengthening Europe’s defence capabilities, citing mounting geopolitical tensions, particularly in light of Russia-Ukraine military conflict and concerns over the future of U.S. support for the North Atlantic Treaty Organization (NATO).
“Europe is ready to massively boost its defence spending. Both to respond to the short-term urgency to act and to support Ukraine but also to address the long-term need to take on much more responsibility for our own European security,” she said.
“The question is no longer whether Europe’s security is threatened in a very real way,” von der Leyen said. “The real question in front of us is whether Europe is prepared to act as decisively as the situation dictates.”
According to a statement published by the European Commission, the “ReArm Europe” plan is a comprehensive set of proposals aimed at unlocking financial resources to support national defence investments both in the short term and over the next decade.
The initiative consists of five key measures designed to strengthen Europe’s defence capabilities and bolster military support for Ukraine.
A core component of the plan involves adjusting EU fiscal rules to allow member states to ramp up defence spending without triggering budgetary penalties.
Von der Leyen announced that the European Commission will propose activating the national escape clause of the Stability and Growth Pact, enabling governments to expand their military budgets without breaching EU deficit limits.
“If Member States were to increase their defence spending by 1.5 percent of GDP on average, this could create fiscal space of close to 650 billion euros over four years,” she said.
Another key element of the plan is the creation of a 150-billion-euro loan program to help EU countries jointly invest in critical military assets. The initiative aims to enhance collective procurement efforts, reduce costs, and improve interoperability across European armed forces.
“We are talking about pan-European capability domains: air and missile defence, artillery systems, missiles and ammunition, drones and anti-drone systems, as well as cyber defence and military mobility,” von der Leyen said.
Joint procurement efforts under this scheme would not only reinforce EU security but also allow member states to provide Ukraine with additional military aid, she said.
Von der Leyen also proposed leveraging the EU budget to support defence-related investments. She announced member states would be given additional incentives to use cohesion policy programmes to boost military spending.
The final two pillars of the ReArm Europe plan focus on attracting private sector investment in defence through specific initiatives and through increased involvement from the European Investment Bank.
“We will continue working closely with our partners in NATO,” von der Leyen said. “This is Europe’s moment, and we are ready to step up.” (1 euro = 1.06 U.S. dollar)
US Senate News:
Source: United States Senator for New Hampshire Jeanne Shaheen
**Shaheen’s bill would have limited impact of Canada and Mexico tariffs on American consumers and businesses**
(Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH), Ranking Member of the U.S. Senate Foreign Relations Committee and a top member of the U.S. Senate Committee on Small Business and Entrepreneurship, took to the Senate floor today to call for unanimous consent to pass her legislation—the Protecting Americans from Tax Hikes on Imported Goods Act. If Republicans had not blocked passage, Shaheen’s bill would have shielded American consumers and businesses from rising prices and higher taxes caused by President Trump’s tariffs on Canada, New Hampshire’s largest trading partner, and Mexico. Her legislation would keep costs down for imported goods by limiting the authority under the International Emergency Economic Powers Act (IEEPA)—which allows a President to immediately place unlimited tariffs after declaring a national emergency—while preserving IEEPA’s use for sanctions and other tools. Click here to watch Shaheen’s remarks in full.
Key quotes from Senator Shaheen:
“Trump’s tariffs will make everything—from gas to heating to groceries to lumber and more—more expensive for everyday Americans. And I think it bears repeating that tariffs are paid by consumers. They’re paid by Americans, not by other countries. And what the President is doing amounts to a new tax for Americans.”
“There are countless other imports that American businesses and families rely on that are going to be hit hard. And these tariffs do nothing to bring down those costs. They do just the opposite. These tariffs could add $1,200 to an average household’s yearly costs – and we won’t have to wait very long for the impact to be felt.”
“Businesses plan months, quarters or years in advance. They need to place orders and plot out their growth in order to succeed. How can they plan when they can’t even know whether their costs are going to go up 25% overnight?”
“[My bill] would stop these tariff taxes on goods and energy coming from Canada and Mexico – and it would give businesses and families more certainty to plan for the future and keep more of their hard-earned dollars in their own pockets.”
Full Remarks as Delivered
I come to the floor today because I am concerned about President Trump’s actions to, I believe, start a trade war with our top two trading partners, Canada and Mexico. All goods coming from Canada and Mexico. As of midnight last night, I guess midnight today, face a 25% tax.
That is all except Canadian energy, which is taxed at 10%. Trump’s tariffs will make everything, from gas to heating to groceries to lumber and more, more expensive for everyday Americans. And I think it bears repeating that tariffs are paid by consumers. They’re paid by Americans, not by other countries. And what the president is doing amounts to a new tax for Americans.
For example, heating oil and propane that keeps hundreds of thousands of Granite Staters warm in the winter is going to cost more. We’re going to add about $150 to $250 to the cost of heating homes in New Hampshire. And gas prices are going to go up. In New Hampshire, half of the fuel in our cars and trucks comes from Canada, and U.S. refineries across the Midwest use Canadian oil. The U.S. imports 80% of its potash fertilizer from Canada, and this tariff makes farming and food more expensive.
It’s unclear how the American auto industry is going to continue to operate. Ford’s CEO said these tariffs will, and I quote, “blow a hole in the U.S. industry that we have never seen, with up to $12,000 added to the cost of the car.” And this will make lumber and electrical equipment that we need to build housing at a time when housing is already in short supply. It will make them more expensive and harder to find.
Those are just a few examples. There are countless other imports that American businesses and families rely on that are going to be hit hard. And these tariffs do nothing to bring down those costs. They do just the opposite. These tariffs could add $1,200 to an average household’s yearly costs.
And we won’t have to wait very long for the impact to be felt. It’s already being felt on Wall Street and the stock market. Target’s CEO said this morning that the consumer and I quote, “will likely see price increases over the next couple of days.” And for small businesses, these tariff taxes will be felt by small businesses in all of our states.
I was here a month ago today sharing stories from business owners in New Hampshire who weren’t sure how they were going to keep operating if specialized machinery that they can only get from Canada suddenly costs 25% more. And since that time, I’ve heard from even more people in New Hampshire, more small businesses.
Last week I heard from a small company in Windham, New Hampshire. It makes allergen free cookies, and they can only get certain ingredients for those cookies from Canada. The CEO built her business, which now employs 30 people, and now she can’t be sure if they’re even going to be able to keep going, let alone keep growing.
When I spoke with business representatives across New Hampshire last month, the theme they kept coming back to was uncertainty.
As a former small business owner, I know that uncertainty is the most destabilizing aspect of running and growing a business. Yet that’s what this administration keeps creating. Yesterday, we learned that new orders from manufacturers dropped in February for the first time in 22 years. For the first time in 22 years, new orders from manufacturers dropped because companies can’t work with this level of uncertainty.
Last Wednesday, the president was talking about Canadian tariffs going into effect April 2nd. The very next morning, he announced 25% tariffs would go into effect today. The whiplash is hard to imagine.
I spoke last month about a bus company, C&J Bus Lines in New Hampshire, that was worried about these tariffs and what it would mean for their bottom line.
Well, the CEO moved up his delivery date to get three busses in late March before these taxes were set to go into effect. But his costs just went up more than $450,000.
Businesses plan months, quarters or years in advance. They need to place orders and plot out their growth in order to succeed. How can they plan when they can’t even know whether their costs are going to go up 25% overnight?
How can a developer know if they can start building the housing that New Hampshire desperately needs if their lumber costs 25% more overnight?
And how can a family already struggling with high costs continue to pay the rent or put food on the table if their household costs are going to go up $1,200 this year?
I want families and businesses to know that the whims of this president are not going to cause them to break the bank on everyday items they need to get by.
That’s why I introduced the Protecting Americans from Tax Hikes on Imported Goods Act. It’s a simple change, really. It says that the International Emergency Economic Powers Act, IEEPA, can no longer be used to place taxes on imports. If the president needs to block some dangerous product, he still can. But if there’s a real threat, we’d want to stop it, not just add a tariff tax.
That’s what my bill does. It would stop these tariffs on goods and energy coming from Canada and Mexico, and it would give businesses and families more certainty to plan for the future and to keep their hard-earned dollars in their pockets.
So, Madam President, I ask unanimous consent that the Committee on Banking, Housing and Urban Affairs be discharged from further consideration of S. 151 and that the Senate proceed to its immediate consideration, that the bill be considered read a third time and passed, and the motion to reconsider be considered made and laid upon the table.
Last month, Shaheen introduced the Protecting Americans from Tax Hikes on Imported Goods Act with U.S. Senators Ron Wyden (D-OR) and Tim Kaine (D-VA) to keep costs down for imported goods by limiting the authority under the International Emergency Economic Powers Act (IEEPA)—which allows a President to immediately place unlimited tariffs after declaring a national emergency—while preserving IEEPA’s use for sanctions and other tools.
The authorities granted to the President through the IEEPA represent the broadest of the possible paths an administration can take to impose sweeping tariffs. The Protecting Americans from Tax Hikes on Imported Goods Act clarifies that the IEEPA may not be used to increase costs on American consumers and families by placing tariffs or tariff-rate quotas on imported goods. The legislation would preserve crucial national security tools granted to the President through the IEEPA authority to impose sanctions or to block all imports of goods that are dangerous to national security and would preserve the ability to push back on unfair trade practices of the People’s Republic of China.
Source: China State Council Information Office 2
Editor’s note: As the highly anticipated annual “two sessions” convene, China.org.cn speaks with ambassadors and diplomats in Beijing to gain their insights. In this episode, the Jamaican ambassador to China discusses China’s role in global economic growth and the deepening bilateral cooperation.
Source: China State Council Information Office 2
China’s economy maintained overall stable operation with progress in 2024, with the main goals and tasks for its economic and social development successfully accomplished, according to a government work report submitted Wednesday to the national legislature for deliberation.
The country saw its gross domestic product increase 5 percent year on year last year, ranking among the world’s fastest-growing major economies and continuing to contribute about 30 percent to global economic growth, according to the report.
Source: China State Council Information Office
An aerial drone photo taken on Jan. 8, 2024 shows robotic arms processing parts for new energy vehicles at a private company in Changxing Economic and Technological Development Zone, Huzhou City, east China’s Zhejiang Province. [Photo/Xinhua]
China targets an economic growth rate of around 5 percent in 2025, according to a government work report submitted Wednesday to the national legislature for deliberation.
The report also outlines an array of other key development goals for this year, including a surveyed urban unemployment rate of around 5.5 percent, over 12 million new urban jobs, and an around 2 percent increase in the consumer price index.
The country achieved economic growth of 5 percent in 2024 as an impactful policy package, along with other pro-growth measures, helped fuel strong economic momentum.
On a global scale, an around 5 percent growth rate places China among the world’s fastest-growing major economies, with the economic increment equating to the annual output of a mid-sized nation.
Huang Qunhui, a national political advisor from the Institute of Economics of the Chinese Academy of Social Sciences, described this year’s economic growth target as scientifically grounded and realistic.
“In the face of a challenging global environment, the proactive and resilient goal suggests that China is braving uncertainties with a clear, determined approach to growth,” he said.
As 2025 marks the final year of China’s 14th Five-Year Plan (2021-2025) period and is also crucial to crafting the next five-year blueprint, observers believe that the government policies will not only drive sustained growth this year but also lay the groundwork for the country’s modernization drive in the long run.
Fostering high-quality development is a key focus on this year’s government agenda, with priorities ranging from stimulating domestic demand to developing new quality productive forces.
“We will take a people-centered approach and place a stronger economic policy focus on improving living standards and boosting consumer spending,” the report said.
Domestic demand will be made the main engine and anchor of economic growth, the report said. Ultra-long special treasury bonds totaling 300 billion yuan will be issued to support consumer goods trade-in programs.
New quality productive forces will be nurtured in light of local conditions, according to the report. China aims to foster emerging and future industries, such as quantum technology and the low-altitude economy, accelerate the upgrading of traditional industries, and combine digital technologies including AI with manufacturing and market strengths.
Source: China State Council Information Office
By the end of February, cargo volume on the Chancay-Shanghai shipping route had exceeded 22,000 tonnes since the sea link between China and Peru became fully operational in both directions on Dec. 18, 2024, according to Shanghai Customs.
The total cargo value reached 610 million yuan (about 85.03 million U.S. dollars), the customs department said Tuesday.
Currently, two regular voyages operate between the ports each week, benefiting other major Chinese ports along the east coast, including Dalian, Qingdao, Ningbo and Xiamen.
Chancay Port is not only a deep-water hub but also South America’s first smart and green port. As a flagship Belt and Road cooperation project between China and Peru, the direct route has cut sea travel time between the two countries from over a month to approximately 23 days, reducing shipping costs by at least 20 percent.
The new route has enhanced cargo flows from Latin America to Asia, with projected shipments from Brazil, Ecuador and Colombia. It also streamlined distribution across Asia, offering faster and more cost-effective shipping services.
Statistics from Shanghai Customs show that in 2024, the import value of goods transported from Peru to Shanghai port reached 26.4 billion yuan, marking a year-on-year increase of 23.6 percent; meanwhile, the export value of goods transported from Shanghai port to the South American country amounted to 25.1 billion yuan, up 22.2 percent.
In December 2024, the first month after the sea route was launched, total trade between Shanghai port and Peru surged to 4.68 billion yuan, a 46.1 percent increase from the previous year.
Chinese-made automobiles are among the key exports to Peru, while agricultural products such as fruit and fish powder from the South American country are common imports.
Shanghai Customs has established a “green channel” for cargo and optimized supervision services to ensure safety and efficiency on the route.
Source: China State Council Information Office
Tianjin and Qingdao, two major port cities in China, kicked off the new year with their first inbound international cruise ship of 2025 — the Malta-registered Europa 2, a clear signal of the steady revival of China’s cruise tourism industry.
The luxury liner, carrying hundreds of passengers from countries including Germany, Austria and Switzerland is on a global voyage. During its China leg, the tour group headed to major destinations including Xiamen, Shanghai and Tianjin.
After a brief stop in Qingdao in Shandong Province, east China, on March 1, the ship would head to Japan and the Republic of Korea, according to Kristina Jurgawka, a crew member aboard the ship.
An avid history enthusiast, she was deeply impressed by the Great Wall, a UNESCO World Heritage Site, and enchanted by the skyline of Shanghai. “I’m truly grateful for this once-in-a-lifetime experience,” she said.
For German tourist Joachin Dopp, the ease of entry into China left the strongest impression. “It’s simple to enter, no need for a visa or all those formalities. It’s great that you can just enter the country and enjoy it [your trip],” he told Xinhua.
His experience reflects well on China’s effort to rejuvenate the cruise tourism sector. In May last year, a policy was rolled out allowing visa-free entry for foreign tourist groups arriving on cruise ships at any of the country’s cruise ports along the coastline.
With a coastline stretching 18,000 km, China has seen steady improvements in its port infrastructure. The country boasts abundant tourism resources and is experiencing rapid growth in the service industry, making it a major destination for international cruise liners.
Wang Hong, president of China Europe International Business School, said in a media interview that the visa-free entry policy for cruise passengers will bring unprecedented development opportunities to China’s tourism and cruise industries. It is expected to attract more foreign visitors to choose cruises as a means of traveling to China, thereby boosting inbound tourism.
Industry leaders predict a strong rebound in international cruise tourism in China this year.
On Jan. 3, an international cruise ship carrying 456 passengers docked at Phoenix Island International Cruise Port in Sanya, a popular tropical destination. From 2006 to the end of 2024, the port handled over 1,600 cruise ship voyages and over 2 million passenger trips.
Days later, the Silver Dawn became the first international cruise ship to arrive in Shanghai this year, bringing over 400 tourists from more than 20 countries, including the United States, Britain, and Australia. During the eight-day Spring Festival holiday, the border inspection authorities in Shanghai reported 22 cruise ship entries and exits, with 72,000 cruise passenger trips.
Tang Ming, head of a Shanghai-based travel agency, noted that since February 2024, the market has steadily recovered. “We expect to see a 20 to 30 percent increase in international cruise tourists this year,” he said.
Cruise ports in Qingdao are expected to receive over 40 cruise ship visits in 2025, twice the number recorded in 2024, according to the city’s culture and tourism bureau. Meanwhile, Tianjin International Cruise Home Port is preparing for increased activities, with more than 40 inbound and outbound cruise ship visits anticipated at Dongjiang Port in the first quarter alone.
Globally, the Cruise Lines International Association estimates that the number of ocean-going cruise passengers will reach 39.5 million by 2027, reflecting sustained demand for cruise voyages.
By 2035, China’s cruise market is expected to welcome 4.2 million inbound foreign tourist trips annually, with total economic output projected to reach 531.7 billion yuan (about 74.12 billion U.S. dollars), according to a report by the Shanghai Academy of Social Sciences, as cited by Liao Minsheng, a marine tourism expert from Hainan Tropical Ocean University.
China’s market, Liao said in a media interview, presents unprecedented opportunities for the global cruise and yacht economy.
“China’s vast market size and growing demand for cruise tourism provide international cruise and yacht companies with ample room for expansion,” he added. “The sector’s growth is expected to drive the development in areas such as ship design and manufacturing, foreign trade, tourism services, port construction and modern maritime services.”
Source: China State Council Information Office
The world’s first floating production storage and offloading (FPSO) vessel with a carbon capture and storage facility was delivered in Shanghai on Monday, according to a Xinmin Evening News report.
The AGOGO FPSO, measuring 333 meters in length and 60 meters in width, has a daily production capacity of up to 120,000 barrels of crude oil and an oil storage capacity of 1.6 million barrels.
By capturing the carbon dioxide generated during sailing and oil production and using the exhaust heat energy to generate electricity, the vessel can achieve both environmental protection and energy saving.
The conventional floating production, storage and offloading units emitted approximately 20 to 30 kilograms of carbon dioxide equivalent per barrel. The AGOGO FPSO is expected to reduce such emissions by about 230,000 tonnes per year, equivalent to the carbon dioxide absorbed by 7,333 hectares of forest within one year.
Offshore oil and gas operations are known to produce substantial amounts of carbon dioxide. The delivery of the AGOGO FPSO marked an important step in the field of offshore carbon capture in China, making a contribution to the decarbonization of the global offshore oil production industry.
Source: People’s Republic of China – State Council News
China to improve contingency plans for handling external shocks to safeguard financial security, stability
BEIJING, March 5 — China will improve contingency plans for handling external shocks so as to effectively safeguard financial security and stability, according to a government work report submitted Wednesday to the national legislature for deliberation.
Source: People’s Republic of China – State Council News
BEIJING, March 5 — China will promote the healthy and well-regulated development of the platform economy and give better play to its role in inspiring innovation, expanding consumption and stabilizing employment, according to a government work report submitted Wednesday to the national legislature for deliberation.
Source: People’s Republic of China – State Council News
BEIJING, March 5 — China will formulate policies on boosting birth rates, and provide childcare subsidies, according to a government work report submitted Wednesday to the national legislature for deliberation.
The country will also vigorously develop integrated nursery and childcare services, and increase public-interest childcare services, read the report.
Source: People’s Republic of China – State Council News
BEIJING, March 5 — China will firmly advance the cause of reunification, according to a government work report submitted Wednesday to the national legislature for deliberation.
The country will improve institutions and policies for promoting economic and cultural exchanges and cooperation across the Taiwan Strait and advance integrated cross-Strait development to improve the well-being of Chinese people on both sides, said the report.
Source: People’s Republic of China – State Council News
BEIJING, March 5 — China plans to develop a package of major projects for climate change response and actively engage in and steer global environmental and climate governance in 2025, according to a government work report submitted on Wednesday to the national legislature for deliberation.
US Senate News:
Source: United States Senator for Alabama Tommy Tuberville
WASHINGTON – Today, U.S. Senator Tommy Tuberville (R-AL) joined a Senate Armed Services Committee hearing to speak with President Donald J. Trump’s nominee for Under Secretary of Defense for Policy, Elbridge Colby. During the hearing, Senator Tuberville and Mr. Colby discussed the Trump administration’s plan to counter our foreign adversaries and the importance of selecting locations of military installations based on merit and not politics.
Read the transcript below or watch the full interaction on YouTube or Rumble.
ON COUNTERING CHINESE AGGRESSION IN PANAMA CANAL:
TUBERVILLE: “Good to see you and your family and thank you for wanting to take on this job. It’s going to be very difficult, but we think you can handle it. Mr. Colby, you advocate for a strategy of denial in military and geopolitical context. How does this concept translate to Central and South American places like Panama and the troubling amount of influence that China is starting to have and has had in that area? And by the way, they just announced that one of our major corporations is purchasing both ports at the Panama Canal, which is very good news.”
MR. COLBY: “Well, thanks very much, Senator. And I think the President’s early initiatives on our hemisphere in places like Panama are very encouraging. I think this is part of an overall strategy, both to secure our own interests directly, secure the territorial integrity of our homeland from unchecked migration and lethal fentanyl flows that are killing hundreds of thousands of Americans. But also, as you said, Senator, to ensure that China does not gain a foothold or beyond a dominant position in critical areas of Latin America, which I think was happening. I think that’s a big part of the strategy now. I think part of that is up to the military, but a lot of it’s part of the other agencies of government, the State Department. I know former ambassador in Mexico, Chris Landau, Ambassador Chris Landau, is going through his hearing downstairs. I believe he’s up for the Deputy Secretary of State. You know, I think that’s a kind of relationship between DOD and State Department where you have a clear picture that we’ve got to have a handle on our hemisphere. We’re pursuing our own strategies and we’re also empowering countries in the hemisphere and in the region to contribute more, you know, through development, through better governance themselves, through alignment with the kind of common-sense approaches that I think that we’re following here. That can result in better outcomes for all of us.”
TUBERVILLE: “Yeah, I think you’ll find the new administration in Panama is very receptive […] once you get in your position, you’ll find that out. Been down there several times, and they need help as we need more access to the canal. So, thank you for that.”
ON IMPORTANCE OF BRINGING SPACECOM TO BEST LOCATION:
TUBERVILLE: “In 2023, President Biden overrode President Trump, the Department of Air Force, and the findings of multiple studies, including an inspector general review and directed that the headquarters of Space Command remain in Colorado instead of moving to its selected location at Redstone Arsenal in Huntsville, Alabama. My State. Mr. Colby, if confirmed, you will be the senior DOD official in charge of space policy, […] as well as strategy plans and capabilities for the entire department. Do you agree with me that, as a matter of policy, it is in our nation’s best interest to make basing decisions on merit and not on political agendas?”
MR. COLBY: “I do, Senator.”
TUBERVILLE: “Thank you. Mr. Colby, much of your work is about prioritizing our defense policy towards deterring aggression with China our pacing challenge. What do you make of the progress made over past few years by our adversaries toward integrating with their militaries. I’m talking about since Ukraine, Russia have had their conflict, all the people in the east basically that are running to China. What’s your thought on that?”
MR. COLBY: “Well, I think it’s really, really disturbing Senator. I think there has been this kind of, think of it as like a counter coalition. China, Russia, Iran, North Korea. China’s kind of the cornerstone of that coalition. It’s by far the largest economy. Their support has made the Russian war effort in Ukraine sustainable. They’re helping the Iranians. The Iranians are helping them. The Russians are helping the North Koreans. So, I think there’s a couple of things to be done about that.
On the defense side, I think it’s important for us to work with our allies to kind of plug the gaps in our perimeter. A lot of that is getting our forces in a better state of readiness, putting them in the right place, getting our defense industrial base back in a good shape, robust defense funding, and then getting our allies to step up. I think a big part of this is we have some allies—Israel, I’ve mentioned, India, South Korea, Poland— they’re really pulling their weight. You could add Finland up there, is doing a pretty good job. But a lot of the biggest economies in our alliance network really aren’t pulling their weight. They’re starting now. So, I think there’s a real opportunity to capitalize on that because together, we are much wealthier than this counter coalition, but we’ve got to turn that into real military capability.”
ON BRICS:
TUBERVILLE: “Your quick thoughts on BRICS.”
MR. COLBY: “I think, you know, BRICS are sort of a representation of the changing world dynamic. I think Secretary Rubio put it very well. We’re no longer in Charles Krauthammer’s unipolar world. We’re in a world—United States is still, I think, the strongest country out there, but China is the biggest, most powerful rival we face in probably a hundred and fifty years, and other countries are making their decisions. Obviously, the Indians who I think our relationship there is golden going forward, and we should really deepen that. And if confirmed, I would make a big priority of that. They’re part of it, so it’s complicated. But people are going to be moving around talking to, you know, the Saudis are talking to Russians and they’re talking to us. That’s very common. That’s how the world’s going to be. That’s the reality of the world system as it is now, I think.”
TUBERVILLE: “Thank you.”
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, HELP, and Aging Committees.
Source: China State Council Information Office 3
People visit the “Yanzhao Craftsmanship” intangible cultural heritage exhibition during a cultural tourism promotion event of China’s Hebei Province in Christchurch, New Zealand, March 3, 2025. [Photo/Xinhua]
China’s Hebei Province promoted cultural tourism in New Zealand’s South Island on Monday, showing local audience acrobatics, Hebei bangzi, a genre of Chinese opera, and other folk culture performances.
Traditional Chinese instruments such as Suona and Erhu performances were also displayed to the local people, organized by the delegation of the Hebei Provincial Department of Culture and Tourism.
The “Encounter Hebei” photo exhibition and the “Yanzhao Craftsmanship” intangible cultural heritage exhibition were also held as part of the promotion activities.
Hebei, located close to the capital Beijing, boasts a profound historical heritage and distinctive regional characteristics, giving rise to a rich array of historical and cultural legacies as well as unique tourism resources, Chinese Consul General in Christchurch He Ying said in a speech delivered at the promotion activities.
The consul general expressed her sincere hope that the event would help more Kiwi friends become familiar with Hebei and warmly invited them to visit and experience its magnificent scenery firsthand.
Source: China State Council Information Office 3
Chinese cultural elements such as trendy toys, cuisines, TV dramas, etc., are establishing a bigger presence in Thailand these years. The popularity of Chinese culture is a vivid illustration of the close bond between China and Thailand.
In a store of China’s trendy toy maker Pop Mart in Bangkok, capital of Thailand, a customer named Ploy was selecting from an array of dolls displayed on the shelves. Each series, whether it was Labubu, Molly, or Skullpanda, left her enchanted.
“Many of my friends love Labubu. It’s so comforting and always brings me joy,” said Ploy. She added that the Thai people are drawn to cute things. The toys of Pop Mart, featuring vibrant colors and diverse designs, strongly appeal to the young people there.
Following the success of the Chinese animated film “Ne Zha 2,” Pop Mart’s newly-launched blind boxes of the “Ne Zha 2” series have quickly sold out. Many international fans are also eagerly anticipating its overseas release.
Thailand’s news channel TNN commented that toy collecting has evolved from a trend in China to Thailand and beyond. It has transcended the scope of a commercial activity, becoming a modern culture that brings people together.
In addition, Thailand has seen a surge in Chinese restaurants offering traditional dishes like Malatang, hotpot, fish with Sichuan pickles, and Sichuan-style grilled fish. The numbing and spicy Sichuan cuisine very much suits the flavor preferences of the Thai people, and are therefore highly popular in Thailand, May from Bangkok told People’s Daily Online.
In July 2023, Thailand’s Minor Food Group opened a Sichuan-style grilled fish restaurant in Bangkok. The company’s COO said that with the diverse Chinese cuisine styles in the Thai market, the company is exploring Sichuan dishes to keep up with the growing trend of Chinese food in Thailand.
Chinese TV series are also accelerating their global reach. Hou Xiaonan, CEO, president and executive director of China Literature Limited, said at the Asia TV Forum & Market that, “Chinese TV series have replaced US TV series and become the second most popular entertainment content in Southeast Asia’s video-on-demand market.” Last year, high-quality Chinese dramas like “Joy of Life Season 2” topped the trending charts on video platforms across Southeast Asia.
Similarly, Chinese micro-dramas are gaining significant traction abroad. Singaporean Chinese-language newspaper Lianhe Zaobao reported that Southeast Asia is a hotspot for Chinese micro-dramas, with some Chinese companies setting up production centers in Thailand, the Philippines, and other countries. With exquisite costumes, fast-paced storytelling and dramatic twists, Chinese micro-dramas have become a favorite among global viewers and a popular medium for young audiences to explore Chinese culture.
Source: China State Council Information Office 3
This photo taken on March 3, 2025 shows copies of hand-drawn posters of “Ne Zha 2” at an exhibition on the creative journey of Chinese animated blockbuster “Ne Zha 2” in Chengdu, southwest China’s Sichuan Province. [Photo/Xinhua]
An exhibition about the Chinese animated blockbuster “Ne Zha 2” opened on Monday afternoon in Chengdu, capital of southwest China’s Sichuan Province, offering visitors an in-depth look at the film’s creation process.
The exhibition, themed “Break or Lose It,” features original character sketches, iconic scenes and a milestone wall tracing the film’s record-breaking success. Director Jiaozi’s hand-drawn posters are also on display.
After his visit on Tuesday morning, local resident Chen Jie, 28, praised the exhibition for revealing the dedication of the filmmaking team.
“The care and passion behind every detail of the movie are truly inspiring,” said Chen, an interior designer. “The movie is a source of pride for Chengdu and a testament to the potential of Chinese cinema.”
The exhibition also features immersive audiovisual experiences, allowing attendees to relive key moments from the film.
This photo taken on March 3, 2025 shows copies of hand-drawn posters of “Ne Zha 2” at an exhibition on the creative journey of Chinese animated blockbuster “Ne Zha 2” in Chengdu, southwest China’s Sichuan Province. [Photo/Xinhua]
Running until June 1, the exhibition is organized by Chengdu Coco Cartoon Co., Ltd., which co-produced the movie.
Zheng He, a staff member involved in the exhibition, mentioned that the event has been warmly received by the public — with all 1,000 daily visitor slots fully booked for Tuesday and the coming weekend.
“Ne Zha 2” has become the first non-Hollywood film to exceed $2 billion in global earnings, including presales, according to data from ticketing platform Maoyan.
Source: IMF – News in Russian
Opening Remarks by the IMF Managing Director Kristalina Georgieva
At a conference on Asia and the IMF: Resilience through Cooperation, Tokyo, Japan, March 5, 9AM JST
March 4, 2025
(As Prepared for Delivery)
I would like to thank Finance Minister Kato for welcoming us today and want to express my gratitude to Governor Ueda for joining. I’m very sorry I can’t be with you in person. But thankfully technology allows me to join you virtually.
Those who have been to Tokyo’s Skytree know that it has the best views of the city. And like so much in Japan, it’s an engineering masterpiece. Gazing across Tokyo’s skyline, it’s hard to imagine just how much the city—and the country—has changed in the 80 years since the Bretton Woods Institutions were established.
After World War II, Japan invested heavily in infrastructure and manufacturing and introduced sweeping reforms. These set the country on a path to becoming an economic powerhouse.
Inspired by Japan’s success, other countries in Asia followed suit. Today, the region contributes over 60 percent of global growth, and is home to some of the world’s largest, most innovative companies.
Of course, Asia is a very diverse continent, with a mix of advanced economies, emerging and frontier markets, and small island states. Demographics and income levels vary too.
But across the region, openness and deepening economic ties have been crucial to countries’ success.
The world is changing, however. Many countries face weaker growth prospects and are saddled with high public debt. The COVID-19 pandemic and recent geopolitical developments have brought into focus the importance of security of supplies. Trade is no longer the engine of global growth it used to be. And we are in the midst of massive transformations, from rapid advances in AI to changing patterns of capital flows and trade.
Against this background, governments worldwide are shifting their priorities. The new US administration is rapidly reshaping its policies on trade, taxation, public spending, deregulation, and digital assets. And other governments are also recalibrating their approaches and adjusting their policies.
The future of growth
How should countries in Asia adapt? Let me highlight three opportunities.
First, the shift toward services-led growth. While trade in goods has flattened, service flows are surging. In fact, services have already drawn about half of the region’s workers, up from just 22 percent in 1990.
Economists have traditionally thought of services as less productive than manufacturing. Our research suggests otherwise. Asia’s labor productivity in financial services is four times higher than in manufacturing, and twice as high in business services.
Second, digitalization and AI. The demand for digital products and services in the region has accelerated quickly and is on track to continue growing faster than the region’s GDP. Japan’s Rakuten, China’s Alibaba Group, and Indonesia’s GoTo Group now rival e-commerce giants Amazon and Walmart.
In AI development, Japan and China are racing ahead, followed closely by South Korea and Singapore. This could be an important boost for productivity. In Singapore, for example, an estimated 40 percent of jobs could be made more productive by AI. The country has several digital economy agreements now in place, enabling digital companies in the region to connect and share data more easily.
That brings me to my third point: greaterregional cooperation andtrade. On the surface, it might look as if the world is retreating from integration. But regionally, countries are leaning in.
Over the past four decades, intra-regional trade in Asia has increased by 43 percent. Today, more than half of Asian trade is regional.
The trend is the same for foreign direct investment. FDI from Asian countries to Japan, for example has nearly doubled over the past decade, as market opportunities in Japan’s technology sector grow.
Together, the shift toward services, digitalization and AI, and greater regional integration can lift growth. But to harness these opportunities, the region will need to carefully navigate domestic developments and global changes.
The IMF’s role
That is where the IMF comes in. We strive to be trusted partners to our member countries, provide country-specific advice and safeguard the stability of the global economy. Our work spans economic analysis, policy advice, financing and capacity development.
And as the world economy has changed, we too have evolved. From managing fixed exchange rates in the 1970s, to active surveillance of countries’ economic and financial policies and more systematic coverage of spillovers.
More recently, our thinking on capital flow management and foreign exchange interventions has changed, and we’ve upgraded our lending toolkit to include more flexible instruments tailored to emerging market economies.
Thanks in large part to Japan’s support, we are also offering more support to low-income countries, especially in capacity development, and a stronger presence around the world through our regional technical assistance centers.
We are grateful to Japan for the deep engagement in thinking about the future of the Fund. Today’s discussions are an important part of that.
My colleagues and I are keenly interested in ideas and reflections on:
We know from experience that reforms are hard, but we also know they can steer countries towards stronger and durable growth and can achieve a more stable and prosperous global economy.
You can count on the IMF in this journey.
Deputy Managing Director Nigel Clarke and the rest of our team are excited to be part of today’s productive discussion. I look forward to the outcome.
Thank you.
PRESS OFFICER:
Phone: +1 202 623-7100Email: MEDIA@IMF.org
https://www.imf.org/en/News/Articles/2025/03/05/sp030525-md-asias-next-growth-frontier
Source: China State Council Information Office
Israeli soldiers are seen during a military operation in the West Bank city of Jenin, on March 4, 2025. [Photo/Xinhua]
The Israeli army on Tuesday killed a senior Qassam Brigades commander and another Palestinian during a large-scale military operation in the eastern neighborhood of the northern West Bank city of Jenin.
According to Palestinian security sources and eyewitnesses, the Israeli forces, backed by large reinforcements, surrounded several residential buildings in the eastern neighborhood of Jenin, which led to violent clashes that resulted in the killing of Aysar al-Saadi and another young man.
Hamas mourned the death of Aysar, accusing Israel of resorting to “assassinations after failing to confront the resistance on the ground.”
In a statement, the Israeli army confirmed the killing of Aysar, alleging that he was responsible for planning attacks against Israeli targets. The statement also claimed that the second Palestinian killed “posed a threat” to Israeli forces in the area.
The army emphasized that military operations would continue in Jenin to pursue what it described as “terrorist elements.”
Source: China State Council Information Office
U.S. President Donald Trump (2nd L) welcomes Ukrainian President Volodymyr Zelensky (2nd R) at the White House in Washington, D.C., the United States, on Feb. 28, 2025. [Photo/Xinhua]
Ukrainian President Volodymyr Zelensky said on Tuesday that his country stands ready to enter peace negotiations without delay.
“Ukraine is ready to come to the negotiating table as soon as possible to bring lasting peace closer. Nobody wants peace more than Ukrainians,” he said on social media platform X.
Zelensky said that he and his team are ready to work under the leadership of U.S. President Donald Trump to achieve peace.
Speaking about his recent meeting with Trump on Feb. 28, Zelensky admitted it “did not go the way it was supposed to be.”
“It is regrettable that it happened this way. It is time to make things right. We would like future cooperation and communication to be constructive,” Zelensky said.
As the initial steps of the peace process, Zelensky proposed the release of prisoners, a ban on using missiles, long-range drones and bombs against energy facilities and other civilian infrastructure, and a truce in the sea.
Source: China State Council Information Office
Karam Haloub’s kids are seen near their damaged house in Beit Lahia in the northern Gaza Strip, on March 3, 2025. [Photo/Xinhua]
Arab leaders approved on Tuesday an Egyptian reconstruction plan for Gaza, which is estimated to cost 53 billion U.S. dollars and aims to avoid displacing Palestinians from the enclave.
The plan was accepted at the closing of the emergency Arab summit held in Cairo with full support from participating Arab leaders.
The summit also agreed to form a non-factional technocratic committee to administer Gaza for at least six months under the umbrella of the Palestinian Authority.
Following the summit, Egyptian Foreign Minister Badr Abdelatty told a press conference that Egypt will begin to promote its reconstruction plan internationally.
He detailed that the plan includes the establishment of a seaport and an airport in the Gaza Strip and the recycling of the rubble left by the destruction in Gaza.
According to the summit’s final statement, the Arab leaders issued a warning that any attempts to displace the Palestinian people or to annex any part of the occupied Palestinian territory would lead the region into a new phase of conflict, undermine opportunities for stability, and expand the conflict to other countries in the region.
The Arab leaders pledged to provide all types of financial, material, and political support for the implementation of the reconstruction plan, urging the international community and financing institutions to promptly provide the necessary support for the plan, according to the statement.
The Arab leaders also emphasized the urgency of implementing the second and third phases of the ceasefire agreement between Hamas and Israel, stressing the importance of each party’s commitment to its obligations, particularly the Israeli side, to achieve a permanent cessation of “aggression” against Gaza.
They demanded that Israel should completely withdraw from the Gaza Strip, including the Philadelphi Corridor between Gaza and Egypt, and ensure safe, adequate, and immediate access to humanitarian, shelter, and medical aid without obstacles.
Participants pose for a group photo before attending the Extraordinary Arab Summit-Summit for Palestine in New Administrative Capital, Egypt, on March 4, 2025. [Photo/Egyptian Presidency handout via Xinhua]
The Arab leaders vowed to work on establishing a trust fund to receive financial pledges from all donor countries and financing institutions to implement recovery and reconstruction projects.
The plan counters a previous proposal by U.S. President Donald Trump, which suggests redeveloping Gaza and relocating Gazans to neighboring countries, including Egypt and Jordan.
Oren Marmorstein, spokesperson for Israel’s foreign ministry, rejected the plan on X, reiterating Israel’s support for Trump’s plan.
For his part, UN Secretary-General Antonio Guterres stressed the UN’s readiness to back the Egypt-drafted plan, stressing that Gaza should remain as part of the State of Palestine.
Describing the situation in Gaza as “horrific,” Guterres called for allowing humanitarian aid into the enclave.
Hamas welcomed the summit’s outcomes, saying that they reflect significant political support for the Palestinian cause, particularly amid the escalation of “Israeli aggression.”
In a press statement, Hamas praised the positions of Arab leaders during the summit, highlighting their rejection of attempts to displace Palestinians or undermine their cause.
Hamas stressed that the unified Arab stance sends a clear message that the Palestinian “Nakba,” the mass displacement and dispossession of Palestinians during the 1948 Arab-Israeli war, will not be repeated.
The group also commended the summit’s adoption of the Gaza reconstruction plan, calling for all necessary resources to ensure its success.
US Senate News:
Source: United States Senator Peter Welch (D-Vermont)
Comes as the Trump Administration implemented sweeping 25% tariffs on Canada, Mexico, and China
WASHINGTON, D.C. — U.S. Senator Peter Welch (D-Vt.) and Allison Hope, Executive Director of the Vermont Maple Sugar Makers’ Association, today joined Senate Democrats for a press conference on Capitol Hill with Americans from across the country who are being hurt by Trump Administration policies—from businesses hit by tariffs to veterans who were laid off by Elon Musk’s so-called “Department of Government Efficiency” (DOGE) to cancer researchers.
Allison Hope, Executive Director of the Vermont Maple Sugar Makers’ Association spoke about how Trump’s Trade War will hurt Vermont’s maple industry:
“Vermont makes about 50-51% of the U.S. production of pure maple syrup, and we have Canadian partners across the border. In the past 20 years, Vermont’s production rates have grown 500% and a 25% Canadian tariff on maple equipment—most of which comes across the border, because that’s where most maple syrup is made—on the Canadian imports that come into Vermont will have a staggering effect on Vermont’s producers, who not only are agricultural farmers, but they are foresters, and so they keep a large swath of Vermont forested.
“I think that our Canadian counterparts are a huge part of our trade. The U.S. can’t supply all ofthe maple syrup for retail in the United States, and so we bring into Vermont —and other areas of the U.S.—Canadian bulk syrup. When that price goes up, it affects the shelf price at retail, and those larger contracts for blended Vermont, U.S., and Canadian maple syrup—those contracts change for cents on the dollar. And so, the end result of that will be a potential stagnation of production in Vermont and also a loss of potential shelf space at a time when it’s really hard and really expensive to get it back,” Hope said.
After the event, Senator Welch emphasized the importance of making sure the Trump Administration hears directly from those who are impacted by Trump’s misguided trade policies:
“These tariffs are really going to hurt our economy in Vermont, and the impacts will be far-reaching. President Trump is singlehandedly raising costs for Vermonters—from the food on our table, to our energy bills, to the materials our home construction companies and manufacturers need. It’s important that the Trump Administration and my colleagues across the aisle hear directly from those who are impacted and that they drop this misguided plan.”
Watch a livestream of the press conference below:
Vermont’s maple industry—as well as farms and businesses across Vermont—are bracing for the economic fallout of Trump’s 25% tariff on Canada, which went into effect today. Sugar makers expect the cost of Canadian-made sugaring equipment to dramatically increase. Bulk maple sales to major retailers like Costco, Target, and Whole Foods rely on both U.S. and Canadian producers and most of the equipment needed to produce syrup is manufactured in Canada.
Last week, Senator Welch expressed opposition to the Trump Tariffs after voting against the nominationof Jamieson Greer for United States Trade Representative. He also joined Senator Jeanne Shaheen’s (D-N.H.) Protecting Americans from Tax Hikes on Imported Goods Act, which would shield American businesses and consumers from rising prices imposed by tariffs on imported goods into the United States. The bill would keep costs down for imported goods by limiting the authority of the International Emergency Economic Powers Act (IEEPA)—which allows a President to immediately place unlimited tariffs after declaring a national emergency—while preserving IEEPA’s use for sanctions and other tools.
US Senate News:
Source: United States Senator for Washington Maria Cantwell
03.04.25
Trump Tells Farmers ‘Have Fun’ As He Kicks Off Pointless Trade Wars. Cantwell Tells the Truth: ‘It’s Not Going to Be Fun, It’s Going to Be A Nightmare’
Ahead of Presidential address, Cantwell calls on Congress to reclaim its Constitutional authority over tariffs; Cantwell also calls out arbitrary and wasteful layoffs at NOAA, NIH, NSF, USDA: “These kinds of ideas sound great, but they’re not well thought out. It’s literally throwing tax dollars away.”
WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Finance Committee, delivered a Senate floor speech raising concerns about the economic fallout of Trump’s newly announced tariffs, hours before the President is set to deliver remarks before a Joint Session of Congress.
“Trump said to our farmers yesterday on Truth Social, quote, ‘tariffs will go on external products on April 2. Have fun.’ End quote,” Sen. Cantwell said. “’Have fun?’ ‘Have fun?’ When retaliatory tariffs strike our farmers — just as they did in the first Trump administration — it’s not going to be fun, it’s going to be a nightmare for our farmers. And many of the farmers in my state worry [whether] they will be able to farm at all.”
“I hope my colleagues will slow down on this tariff tirade. Under Article One, Section Eight of the U.S. Constitution, Congress has the power to set duties and regulate foreign commerce. However, Congress has spent the last 80 years delegating its tariff authority to presidents,” she continued. “This president, I believe, is abusing this authority. He calls it an emergency. He’s using the trade wars to supposedly force countries to do things like changing their border policies. I believe it’s time for Congress to start taking back some of that power and considering how we’re going to protect the family farm.”
Over the past 24 hours, as President Trump’s long-promised 25% tariffs on goods from Mexico and Canada and 10% tariff increase on goods from China took effect, stock prices in the United States have plummeted. The Dow fell more than 700 points this morning. Today, the Wall Street Journal’s editorial board criticized his decision: “Trump takes the dumbest tariff plunge.”.
Sen. Cantwell also showed the following graph with the alarming new forecast by the Federal Reserve Bank of Atlanta, which recently began predicting negative real GDP growth for the first quarter of 2025, a rapid reversal of its prior forecast for growth. “Just last week, when people want to talk about GDP and where this is going, it’s amazing that the Atlanta Fed was forecasting GDP growth over two percent for the first quarter of 2025…. but we can see when we got to February, we fell off a cliff… this drop is the representation of a cliff that President Trump is pushing the American economy over.”
“We know this — that in my state, families are paying more for groceries. They’re paying more at the gas pump. They’re paying more at electricity bills. And they are seeing the stock market plummet because as businesses grapple with Trump’s unnecessary trade war, businesses are concerned about the long-term impacts of the supply chain and the cost of those tariffs,” Sen. Cantwell said.
In Washington state, two out of every five jobs are tied to trade and trade-related industries. More information on how President Trump’s tariffs on goods from Mexico, Canada, and China will affect consumers and businesses in the State of Washington can be found HERE. Nationwide:
A 25% tariff on Canada and Mexico would add an estimated $144 billion a year to the cost of manufacturing in the United States.
Tariffs on Canada and Mexico could increase U.S. car prices by as much as $12,000.
According to the Yale Budget Lab, Trump’s proposed tariffs would result in the highest U.S. effective tariff rate in more than 80 years, and depending on the level of retaliation by other trading partners, will result in increased costs of between $1,600 and $2,000 per household. According to their analysis, electronics, clothing, cars, and food will all see above-average price increases.
Sen. Cantwell has remained a steadfast supporter of free trade to grow the economy in the State of Washington and nationwide. Sen. Cantwell was the leading voice in negotiations to end India’s 20% retaliatory tariff on American apples, which was imposed in response to tariffs on steel and aluminum and devastated Washington state’s apple exports. India had once been the second-largest export market for American apples, but after President Trump imposed tariffs on steel and aluminum in his first term, India imposed retaliatory tariffs in response and U.S. apple exports plummeted. The impact on Washington apple growers was severe: Apple exports from the state dropped from $120 million in 2017 to less than $1 million by 2023. In September 2023, following several years of Sen. Cantwell’s advocacy, India ended its retaliatory tariffs on apples and pulse crops which was welcome news to the state’s more than 1,400 apple growers and the 68,000-plus workers they support.
In her speech today, Sen. Cantwell also railed against the Trump Administration’s Department of Government Efficiency’s (DOGE) push to indiscriminately slash federal workers from the payroll, compromising the vital ongoing work at federal agencies.
“The cuts that these agencies have been facing are really the cuts to some of the most technical jobs the United States government has. Whether you’re talking about NOAA, or the National Weather Service, or the National Institutes of Health, or the National Science Foundation, or the US Department of Agriculture — they’ve all been targeted for reductions. These agencies are critical to our economic growth and to our security. And at a time when we are seeing more extreme weather events, or more floods or more wildfires, why shouldn’t we be investing more in weather forecasting, not less?
“And when you look at NOAA workers who support our commercial, and recreation, and tribal fisheries, they employ 1.7 million people, including thousands in the State of Washington. Why would you cut specialized workforce that are helping support the growth of GDP?” Sen. Cantwell said.
“DOGE wants to cap the overhead expenses of research. University of Washington medicine tells me that this would leave them with shortfalls and that they might have to stop clinical trials that are underway. You can’t just stop medical research like it’s a faucet! Once halted, the research, the data, the clinical trials, the patients, the laboratories, the equipment — all that led to innovation will be lost. You think you just turn that back on? You know, these kinds of ideas sound great, but they’re not well thought out. It’s literally throwing tax dollars away.”
Since DOGE announced its intent to hack away at federal agencies and programs, Sen. Cantwell has been sounding the alarm and coming to the defense of workers at NOAA, the Small Business Administration, the Department of Housing and Urban Development, the Federal Aviation Administration, the National Institutes of Health, the National Park Service, and more.
A video of her speech on the Senate floor today can be viewed HERE; audio is HERE; and a transcript is HERE.
Source: Republic Of China Taiwan 2
Mayor Brown of the City of Ryde, the Council’s Executive Team and Councillors Keanu Arya, Tina Kordrostami and TECO Sydney attended a book donation ceremony this morning.
Mayor Brown said multiculturalism has been deeply rooted as the way of living in Ryde. Thanks for the generosity from Taiwan, so the Mandarin speaking communities in Ryde can enjoy the top-tier Taiwanese literature works, and the city’s diverse heritages are further enriched.
Director General David Cheng-Wei Wu said that he is also a City of Ryde Library member and honored to represent the National Taiwan Museum of Literature in donating 60 books of 2023 and 2024 Taiwan Literature Awards Finalists and Award-Winning Titles, for the very first time in history.
The Awards recognize outstanding work across all literary categories, including fiction, nonfiction, prose, poetry and also provide a window into the richness and diversity of Taiwanese society and culture. This is the pilot program that the National Museum of Taiwan Literature donates books to Australia, and we hope residents of this community can know more about Taiwan through reading them, and most importantly, enhance the connection between our two peoples.
The plan is for the books to start touring the libraries from the week commencing Monday, 9 March. The books will be available at our Ryde Library (Top Ryde) for a week, before being taken to West Ryde Library for another week, before Eastwood for the final week.