Shafaq News/ Chinese PresidentXi Jinping publicly weighed in on the escalating trade dispute with the UnitedStates for the first time, warning that “there are no winners in a trade war.”
Speaking in Beijing alongsideSpanish Prime Minister Pedro Sánchez, Xi said, “Going against the world willonly lead to self-isolation,” according to state broadcaster CCTV.
Xi emphasized that China’sprogress over the past 70 years has been built on resilience and self-reliancerather than foreign assistance. He reiterated Beijing’s commitment to domesticgrowth despite mounting external pressure and called for deeper cooperationwith the European Union to uphold global trade norms and oppose protectionism.
The remarks followed a sharpescalation in trade tensions after China’s Ministry of Finance announced itwould raise tariffs on US imports to 125%, mirroring a move by President DonaldTrump, who earlier hiked duties on Chinese goods to the same level.
In a strongly wordedstatement, China’s Finance Ministry accused Washington of breachinginternational trade rules, describing the US measures as “abnormally high” anddenouncing them as “unilateral bullying and coercion.” The tariffs follow anearlier increase to 84% earlier in the week.
China’s Commerce Ministrysignaled that Beijing does not intend to escalate the situation further,stating it would refrain from retaliating against any additional US steps.
Meanwhile, the White Houseindicated that tariffs on some Chinese products could rise to as high as 145%,citing an existing 20% duty on goods linked to fentanyl production. China hasalso tightened restrictions on Hollywood film imports and imposed new limits onselected American firms operating within its market.
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