During a business forum in Beijing, Chinese Premier Li urged nations to open their markets to counteract the "increasing instability and uncertainty" amid China preparing for more U.S. tariff challenges. He highlighted the importance of countries embracing market openness to tackle risks and challenges in the current global landscape.

The China Development Forum is hosting foreign CEOs like Tim Cook of Apple and Amin Nasser of Saudi Aramco, who are anticipated to meet with President Xi Jinping. Beijing aims to attract foreign investments while navigating geopolitical tensions and boosting domestic consumption amidst looming U.S. tariffs.

Li emphasized the need to combine policy adjustments with market forces to stimulate the economy, although specific measures were not detailed. Stressing the importance of global cooperation, he called on entrepreneurs to defend globalization and oppose protectionism.

Geopolitical strains have led to fewer American CEOs attending the summit, with sources mentioning the absence of a closed-door meeting between Li and foreign business leaders for the second consecutive year. Senator Daines, a prominent supporter of President Trump, held discussions with Chinese officials, becoming the first U.S. politician to visit China during the Trump administration.

Following Trump's announcement of reciprocal tariffs targeting countries with trade barriers, tensions have escalated between the U.S. and China. The Trump administration is reviewing Beijing's compliance with the phase one trade deal, resulting in tariff impositions and retaliatory actions from both nations.