China's Economic Battle: Leaders Meet Amid Escalating Trade Tensions

China's top leaders plan to convene to discuss economic measures amid the escalating trade war with the United States. Analysts predict significant economic impacts from the tariffs imposed by U.S. President Donald Trump, exacerbating China's existing economic challenges. Beijing aims to stabilize capital markets and boost domestic consumption.

In the wake of rising trade tensions with the United States, China's top leaders are poised to meet to formulate strategies to revitalize their economy. Sources indicate that the high-level meeting could commence as early as Wednesday, with a focus on stabilizing capital markets and ramping up domestic consumption.

The trade conflict's repercussions are pronounced, with economists cautioning that U.S. tariffs may lop off up to two percentage points from China's economic growth this year. Amidst these challenges, the planned gathering of senior officials marks the first definitive step since the imposition of U.S. tariffs on Chinese goods, signaling a pivotal moment in China's economic strategy.

As Beijing braces for the fiscal impact, ideas such as enhancing export tax rebates are expected to be discussed. Meanwhile, Beijing's resolve to withstand the trade pressures has been affirmed by recent counter-tariffs. Nonetheless, the spotlight is on China's upcoming economic policies aimed at fortifying consumer spending and restoring market confidence.

(With inputs from agencies.)