Chinese President Xi Jinping has warned that “there is no winner in a tariff war,” emphasizing that unilateral actions risk isolating nations from the global community. His remarks came during a meeting with Spanish Prime Minister Pedro Sanchez in Beijing on Friday.
In a move likely to heighten global economic tensions, China has announced a new round of retaliatory tariffs on US imports, effective from Saturday, raising the total duty to 125%. This follows a decision by US President Donald Trump to impose a 145% tariff on Chinese goods just a day earlier.
“Over the past 70 years, China has advanced through self-reliance and relentless effort,” Xi said, according to Xinhua news agency. “We have never depended on others’ charity, nor have we feared unjustified suppression.”
He stressed that regardless of shifting global dynamics, China will remain focused on managing its internal affairs with confidence and determination.
Highlighting China’s strong economic ties with Europe, Xi noted that both China and the European Union (EU) are major global economies and steadfast supporters of economic globalization and free trade. Together, their combined output accounts for over one-third of the world’s GDP.
Xi called for deeper cooperation between China and the EU to uphold the multilateral trading system and to jointly resist unilateralism and protectionist pressures.
“Safeguarding economic globalization and the international trading environment not only protects the legitimate interests of China and the EU,” he said, “but also promotes fairness, justice, and the rule-based international order.”
Prime Minister Sanchez reaffirmed that China remains a vital partner for the EU and reiterated Spain’s consistent support for a stable and constructive EU-China relationship.
Sanchez emphasized the EU’s commitment to open and free trade, multilateralism, and its opposition to unilateral tariff increases. “There is no winner in a trade war,” he said, echoing Xi’s sentiment.
He added that amid today’s complex global challenges, Spain and the EU are prepared to strengthen communication and coordination with China to protect international trade, address global issues like climate change and poverty, and uphold the shared interests of the international community.
(With IANS inputs)
