Xi cautions that the US risks self-isolation
Chinese President Xi Jinping warned on Friday during Spanish Prime Minister Pedro Sanchez's visit to Beijing that the United States risks isolating itself by pursuing unilateral trade restrictions. US President Donald Trump's administration...
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Chinese President Xi Jinping warned on Friday during Spanish Prime Minister Pedro Sanchez's visit to Beijing that the United States risks isolating itself by pursuing unilateral trade restrictions.
US President Donald Trump's administration has intensified a tariff war with China, recently imposing a total of 145% in duties on Chinese imports. In response, Beijing has retaliated by raising tariffs on American goods to 125%.
“There are no winners in the tariff war and standing against the world ultimately results in self-isolation,” Xi stated, according to Xinhua news agency.
He urged China and the European Union to “jointly resist unilateral bullying” to safeguard their legitimate rights and interests while upholding international rules and order.
The EU, facing a 20% tariff imposed by the US, has warned of significant global economic consequences and pledged to implement countermeasures. Earlier this week, Trump announced a 90-day suspension of reciprocal duties for most US trading partners, including the EU, providing a space for negotiations.
Brussels has adopted a “de-risking” strategy regarding Chinese imports, which balances protective trade measures like tariffs on electric vehicles with efforts to maintain productive economic relations.
President Xi also emphasized that China would remain resolute and manage its affairs effectively, regardless of external changes. “For over seven decades, China’s growth has been fueled by self-reliance and hard work, never depending on favors from others and never backing down in the face of unreasonable suppression,” he explained.
Trump contends that the increased tariffs are necessary to rectify trade imbalances and stop China from “ripping off the USA.” He expressed earlier in the week that the “proud” Chinese would eventually “make a deal at some point.”
China has criticized Trump’s “abnormally high tariffs” on its products as “unilateral bullying and coercion.” Beijing stressed that the US move represents “a serious violation of international economic and trade rules, as well as of basic economic laws and common sense.”
The ongoing trade conflict between the two largest economies in the world has disrupted global markets, driven oil prices to four-year lows, and raised concerns about global supply chains.
Alejandro Jose Martinez for TROIB News
US President Donald Trump's administration has intensified a tariff war with China, recently imposing a total of 145% in duties on Chinese imports. In response, Beijing has retaliated by raising tariffs on American goods to 125%.
“There are no winners in the tariff war and standing against the world ultimately results in self-isolation,” Xi stated, according to Xinhua news agency.
He urged China and the European Union to “jointly resist unilateral bullying” to safeguard their legitimate rights and interests while upholding international rules and order.
The EU, facing a 20% tariff imposed by the US, has warned of significant global economic consequences and pledged to implement countermeasures. Earlier this week, Trump announced a 90-day suspension of reciprocal duties for most US trading partners, including the EU, providing a space for negotiations.
Brussels has adopted a “de-risking” strategy regarding Chinese imports, which balances protective trade measures like tariffs on electric vehicles with efforts to maintain productive economic relations.
President Xi also emphasized that China would remain resolute and manage its affairs effectively, regardless of external changes. “For over seven decades, China’s growth has been fueled by self-reliance and hard work, never depending on favors from others and never backing down in the face of unreasonable suppression,” he explained.
Trump contends that the increased tariffs are necessary to rectify trade imbalances and stop China from “ripping off the USA.” He expressed earlier in the week that the “proud” Chinese would eventually “make a deal at some point.”
China has criticized Trump’s “abnormally high tariffs” on its products as “unilateral bullying and coercion.” Beijing stressed that the US move represents “a serious violation of international economic and trade rules, as well as of basic economic laws and common sense.”
The ongoing trade conflict between the two largest economies in the world has disrupted global markets, driven oil prices to four-year lows, and raised concerns about global supply chains.
Alejandro Jose Martinez for TROIB News
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