Saturday, March 15, 2025 | 03:54 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

China's Xi says 'no winner' in any trade war

Image

AFP Johannesburg

China's President Xi Jinping today said that there would be "no winner" in any global trade war, in a direct warning to US President Donald Trump who has threatened to slap levies on all Chinese imports.

"A trade war should be rejected because there will be no winner," Xi said at the opening of a BRICS summit of emerging economies in Johannesburg.

"Unilateralism and protectionism are mounting, dealing a severe blow to multilateralism and the multilateral trading regime," he said, without mentioning the United States by name.

"We are facing a choice between cooperation and confrontation, between opening up and closed-door policy and between mutual benefit and a beggar-thy-neighbour approach.

 

"The international community has again reached a new crossroads."

Leaders of the BRICS emerging economies -- Brazil, Russia, India, China and South Africa -- are holding an annual three-day summit with attention focused on the threat of a US-led global trade war.

US President Donald Trump has said he is ready to impose tariffs on all USD 500 billion of Chinese imports, complaining that China's trade surplus with the US is due to unfair currency manipulation.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 25 2018 | 11:00 PM IST

Explore News