China’s Xi says there are ‘no winners’ in tariff war as he visits South-east Asia
Although Donald Trump has paused some tariffs, China was the outlier, as he has kept in place 145% tariffs on the world’s second-largest economy.
Chinese President Xi Jinping has said no one wins in a trade war as he kicked off a diplomatic tour of south-east Asia, presenting China as a force for stability in contrast with Donald Trump’s latest moves on tariffs,
Although the US president has paused some tariffs, he has kept 145% duties on China, the world’s second-largest economy.
“There are no winners in a trade war, or a tariff war,” Mr Xi wrote in an editorial jointly published in Vietnamese and Chinese official media.
“Our two countries should resolutely safeguard the multilateral trading system, stable global industrial and supply chains, and open and co-operative international environment.”
Mr Xi’s visit lets China show south-east Asia it is a “responsible superpower”, in contrast with the US under Mr Trump, said Nguyen Khac Giang, a visiting fellow at Singapore’s ISEAS–Yusof Ishak Institute.
While Mr Trump has said he respects Mr Xi, he interpreted the meeting between the two Asian leaders as a sign they were attempting to put the US at a disadvantage on trade.
