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U.S.-listed Chinese stocks Alibaba Group Holding (NYSE:BABA), PDD Holdings Inc (NASDAQ:PDD), and Baidu, Inc (NASDAQ:BIDU) gained on Friday. The Chinese electric vehicle companies, including NIO Inc (NYSE:NIO), Li Auto Inc (NASDAQ:LI), and XPeng Inc (NYSE:XPEV), also noted strong upward momentum.
Beijing said on Friday that it was considering holding talks with the Trump administration after senior U.S. officials repeatedly attempted to start negotiations.
Also Read: Apple Plans iPhone Shift From China To India Amid Tariff Pressures, Geopolitical Risks: Report
China’s Commerce Ministry said in a statement to the New York Times that it was considering the U.S. offer to talk, provided Washington cancels its tariffs on Chinese goods.
President Trump intensified geopolitical tensions with China by raising tariffs on Chinese goods to a minimum of 145% while omitting China from a 90-day pause on its tariffs, unlike its other trading partner countries.
China retaliated with its tariffs on U.S. goods, blocking some American companies from doing business in China and restricting exports of critical minerals catering to semiconductors, drones, and cars.
China’s manufacturing activity for April showed that the factories posted their sharpest monthly slowdown in more than a year.
Last week, President Trump hinted at a substantial reduction in tariff rates as he proposed treating China fairly as its trading partner.
During an investor summit, Treasury Secretary Scott Bessent acknowledged the impracticability and mutual challenges of a tariff war with China.
Investors can gain exposure to Chinese stocks via iShares China Large-Cap ETF (NYSE:FXI) and KraneShares Trust KraneShares CSI China Internet ETF (NYSE:KWEB).
Price Action: BABA stock gained 4.09% on Friday. PDD was up 3.82, BIDU was up 2.54%, NIO was up 3.82%, LI was up 3.01%, and XPEV was up 6.27%.
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