U.S reciprocal tariffs a possibility to strengthen China-Nigeria commerce relations – Chinese language Ambassador
The Chinese language Ambassador to Nigeria, Yu Dunhai, has described the latest tariff challenges sparked by the US as a possibility to deepen {economic} and commerce relations between China and Nigeria.
Talking at a information convention on Friday in Abuja, Yu framed the U.S. commerce insurance policies as a “disaster with alternatives,” emphasising the potential for mutual cooperation and stronger ties between the 2 nations.
Yu famous the vital significance of sustaining a free and open multilateral buying and selling system to drive African nations’ improvement and revitalisation.
Fostering a Free and Open Buying and selling Surroundings
He famous that the soundness and predictability of world commerce environments are important for {economic} progress throughout the continent.
“African nations are dedicated to improvement and revitalisation, which requires a free, open multilateral buying and selling system and a secure, predictable international setting,” Yu said.
He highlighted China’s long-standing popularity as a reliable and reliable companion for Africa, praising its steadfast assist and collaborative strategy.
The ambassador harassed that China’s dedication to high-level openness and market accessibility is essential to mitigating the uncertainties dealing with the worldwide economic system.
This dedication, he argued, supplies much-needed stability in an period marked by frequent disruptions to worldwide commerce.
China’s Market Initiatives and Advantages for Africa
Yu reiterated China’s efforts to broaden market entry for least-developed nations in Africa, showcasing the zero-tariff therapy pledge introduced through the latest Discussion board on China-Africa Cooperation (FOCAC) Beijing Summit.
He highlighted the tangible alternatives these initiatives have created, enabling African nations to spice up exports and improve their {economic} prospects.
The ambassador expressed optimism in regards to the potential for enhanced China-Nigeria cooperation throughout varied sectors.
These alternatives embody elevated exports of Nigerian items to China, investments in key industries, and expanded infrastructure improvement.
Yu emphasised that such collaborations might considerably contribute to Nigeria’s {economic} progress and modernisation.
Dedication to Multilateralism and World Cooperation
Yu additionally reaffirmed China’s shared dedication with Nigeria to fostering a good and inclusive worldwide commerce setting.
He criticised rising protectionist tendencies globally, urging nations to withstand such measures in favour of collaboration.
“Collectively, we are going to uphold the multilateral buying and selling system, resist protectionism, and foster an open, inclusive, and honest worldwide setting,” Yu mentioned.
The ambassador harassed the significance of advancing a extra equitable multipolar world, the place all nations, giant and small, can thrive.
He advocated for universally useful globalisation that creates a shared future for humanity.
“Our shared aim is to advance an equal and orderly multipolar world and a universally useful and inclusive {economic} globalisation, constructing a group with a shared future for humanity,” he concluded.
This announcement reaffirms China’s intent to strengthen its place as a key companion for African nations, significantly Nigeria, whereas navigating the advanced dynamics of the present international buying and selling system.
What you need to know
- Final week, China introduced a big escalation within the ongoing commerce conflict with the US by imposing elevated tariffs on U.S. items.
- Beginning April 12, 2025, tariffs on American imports rose from 84% to an unprecedented 125%, marking one other countermeasure in response to the U.S.’s aggressive commerce insurance policies.
- This improvement follows U.S. President Donald Trump’s choice to implement common tariffs towards China totalling 145%.
