China commits to increasing imports after avoiding initial US tariffs

China wants more imports, trade balance: China is not looking to achieve a trade surplus and plans to increase its imports, Bloomberg reported, citing comments by Chinese Vice Premier Ding Xuexiang at the Davos World Economic Forum. The country is planning “to import more competitive quality products and services to promote balanced trade,” Ding added.

The context: The remarks come at a time when Chinese officials are reportedly working to assuage trade tension with the new US administration, which has recently floated a 10% tariff on China starting on 1 February.

China’s trade surplus rose to a record USD 992 bn in 2024 amid strong exports that may now face the threat of tariffs, Bloomberg reports.

Boeing + Norsk e-fuel to advance SAF production: Boeing is investing in Norsk e-fuel’s efforts to accelerate production and the availability of sustainable aviation fuel (SAF) in the Nordics and globally, according to a statement. Norsk e-Fuel will produce electro-SAF jet fuel through the Power-to-Liquids process, which uses fossilfree power to generate green hydrogen and combine it with recycled CO2 from biogenic sources. The jet fuel can reduce the lifecycle greenhouse gas emissions of air travel by 90% compared to traditional jet fuel, the statement said.