Xi’s key players to lead China in another Trump trade fight

BEIJING – Donald Trump’s return to power has raised the chances of another trade war between the US and China, making Beijing’s potential negotiators some of the most important people in Chinese President Xi Jinping’s government.

Here is a look at the key figures who could be sitting at the table if trade tensions escalate.

Vice-Premier He Lifeng

Mr He, 69, is a Politburo member and Beijing’s point person for US-China economic and trade affairs, taking over from Mr Liu He, who played a central role in the trade war during Trump’s first term. 

He is a close confidante of Mr Xi, having known him since the 1980s when they worked as officials in the coastal city of Xiamen. 

Mr He did not directly participate in the negotiations during the trade war, but he was working at the nation’s top economic planner at the time. That gives him insight into some of China’s tactics for countering Trump. 

Commerce Minister Wang Wentao  

Mr Wang, 60, is China’s commerce minister, a role that traditionally handles trade relations. He has experience across the world’s No. 2 economy, working in the financial hub of Shanghai but also in the rust-belt province of Heilongjiang and interior provinces like Yunnan.

He has hit back at accusations that the dominance of China’s electric vehicle (EV) sector was due to overcapacity and government aid, instead pointing to innovation, advanced supply chains and intense competition. 

Earlier in 2024 he met top global executives, including Apple’s Tim Cook, to boost slowing foreign investment amid geopolitical tensions.

Vice-Commerce Minister Wang Shouwen

Mr Wang, 58, participated in the talks during Trump’s first term. The Chinese government’s international trade negotiation representative and fluent English speaker said during the tensions at the time that his country would not yield to “blackmail”.

He once oversaw North American affairs at the ministry. Mr Wang co-chairs a trade working group with Ms Marisa Lago, the US undersecretary of commerce for international trade. And in that role, he expressed concerns about US efforts to cut China off from key semiconductor techbology.  

Two of Mr Wang’s underlings, Mr Ling Ji and Ms Li Yongjie, could play a role in talks, too. Mr Ling has engaged Europe on the EV tariffs that were recently imposed, while Ms Li rose through the ranks at the ministry’s Department of Treaty and Law.  

PBOC governor Pan Gongsheng  

Mr Pan, 61, is helping to steer the world’s second-largest economy through a growth slowdown and safeguarding the roughly US$60 trillion (S$80.8 trillion) financial system.

An English speaker, he has pushed for reforms in areas such as the banking sector and the exchange rate, earning him a reputation as a problem solver with a wealth of experience in the country’s state banks and the central bank. 

In September, Mr Pan unveiled a broad package of monetary stimulus measures to revive an economy teetering on the brink of deflation. He would most likely play a crucial role in the debate within China over whether the yuan should be allowed to weaken to boost exports, and by how much.

Vice-Finance Minister Liao Min  

Mr Liao, 55, has broad experience working in the financial industry, including at the central bank and the banking regulator. 

The fluent English speaker was a key member of China’s previous team of trade-war negotiators. As part of that, he travelled to the US as an aide to Mr Liu He and met Trump in the Oval Office. 

More recently, Mr Liao greeted Treasury Secretary Janet Yellen when she visited China in April.

In October, he met Treasury Undersecretary Jay Shambaugh in Washington as part of a series of talks. On that visit, Mr Liao said China was worried about tariffs imposed by the US and sanctions related to Russia’s attack on Ukraine. 

Some other possibilities

Mr Zhao Chenxin, vice-director of the National Development and Reform Commission, could also play a negotiating role given his experience dealing with American officials and businessmen. 

It is unclear who from the Foreign Ministry could participate in the negotiations this time around, but one possibility is Executive Vice-Foreign Minister Ma Zhaoxu. In recent years he has been busy interacting with delegations from the US, contributing to speculation that he could one day be named foreign minister. 

Officials from the Ministry of Industry and Information Technology (MIIT) and Agriculture Ministry are also likely to have a role in negotiations.

Mr Zhang Yunming, a vice-minister at MIIT, is one name to watch, given his experience in working with other nations on tech issues. Another is Mr Wu Hongyao, vice-agriculture minister, whose predecessor was involved before he won promotion. BLOOMBERG