'No winners': Xi of China cautions US on the risks of a trade conflict
Chinese President Xi Jinping has cautioned that a trade war with the US would yield no victors. Read Full Article at RT.com
TroibNews 
Beijing is prepared to resolve its differences with Washington and pursue mutually beneficial relations, according to Chinese President Xi Jinping.
The Chinese leader cautioned that neither side would achieve a favorable outcome in the event of a trade war with the United States. He made these remarks during a speech on Tuesday at the ‘1+10’ Dialogue forum in Beijing, which was attended by leaders from significant international economic organizations including the heads of the BRICS+ New Development Bank, International Monetary Fund, World Bank, and World Trade Organization.
Xi emphasized China’s readiness to sustain dialogue, enhance cooperation, and navigate its differences with the US while expressing hope that the United States would reciprocate.
“Tariff wars, trade wars and sci-tech wars go against the trend of history and the laws of economics, and there will be no winners,” he stated.
Last month, Xi highlighted that any efforts to hinder China’s economic progress would constitute a “red line” in Beijing's relationship with Washington. He advised against either superpower attempting to “remodel the other according to one’s own will,” or suppressing and “depriving the other of the legitimate right to development.”
US President-elect Donald Trump, who is set to take office on January 20, has committed to intensifying protectionist measures to safeguard American economic interests, particularly concerning China.
During his first term, Trump’s administration instigated a trade war against Beijing, resulting in mutually imposed tariffs and sanctions. The outgoing administration of President Joe Biden has continued this trend, alleging “unfair business practices” by Beijing and imposing tariffs on billions of dollars’ worth of Chinese goods.
In December, the US limited exports of chip-making equipment and software to China. In retaliation, China imposed bans on exports of dual-use items and essential raw materials utilized in semiconductor production and military applications.
The Biden administration is set to double existing tariffs on essential solar panel components beginning January 1, as announced by US Trade Representative Katherine Tai’s office. Tai claimed that this protective measure would “further blunt the harmful policies and practices by the People’s Republic of China.”
James del Carmen for TROIB News
The Chinese leader cautioned that neither side would achieve a favorable outcome in the event of a trade war with the United States. He made these remarks during a speech on Tuesday at the ‘1+10’ Dialogue forum in Beijing, which was attended by leaders from significant international economic organizations including the heads of the BRICS+ New Development Bank, International Monetary Fund, World Bank, and World Trade Organization.
Xi emphasized China’s readiness to sustain dialogue, enhance cooperation, and navigate its differences with the US while expressing hope that the United States would reciprocate.
“Tariff wars, trade wars and sci-tech wars go against the trend of history and the laws of economics, and there will be no winners,” he stated.
Last month, Xi highlighted that any efforts to hinder China’s economic progress would constitute a “red line” in Beijing's relationship with Washington. He advised against either superpower attempting to “remodel the other according to one’s own will,” or suppressing and “depriving the other of the legitimate right to development.”
US President-elect Donald Trump, who is set to take office on January 20, has committed to intensifying protectionist measures to safeguard American economic interests, particularly concerning China.
During his first term, Trump’s administration instigated a trade war against Beijing, resulting in mutually imposed tariffs and sanctions. The outgoing administration of President Joe Biden has continued this trend, alleging “unfair business practices” by Beijing and imposing tariffs on billions of dollars’ worth of Chinese goods.
In December, the US limited exports of chip-making equipment and software to China. In retaliation, China imposed bans on exports of dual-use items and essential raw materials utilized in semiconductor production and military applications.
The Biden administration is set to double existing tariffs on essential solar panel components beginning January 1, as announced by US Trade Representative Katherine Tai’s office. Tai claimed that this protective measure would “further blunt the harmful policies and practices by the People’s Republic of China.”
James del Carmen for TROIB News
