Beijing is confident of hitting its 5% economic growth target this year despite the U.S. and China imposing hefty levies on each other’s exports.

U.S. Treasury Secretary Scott Bessent takes questions from reporters at the Institute of International Finance (IIF) Global Outlook Forum on sidelines of the IMF and World Bank’s 2025 annual Spring Meetings in Washington, D.C., U.S., April 23, 2025. REUTERS/Elizabeth Frantz