No Definite Victor: Xi Jinping Responds as China Raises Tariffs on US Imports to 125%
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Synopsis
Chinese President Xi Jinping emphasizes that there are no winners in a tariff war. He warns that opposing global trends leads to self-isolation during a meeting with Spanish Prime Minister Pedro Sanchez, as China raises tariffs on US goods to 125%. Both leaders express the importance of cooperation and open trade.
Key Takeaways
- Tariff wars yield no winners.
- Self-isolation is a consequence of isolationist policies.
- China's tariffs on US goods now at 125%.
- Importance of EU-China relations.
- Commitment to free trade and multilateralism.
Beijing, April 11 (NationPress) In the ongoing tariff conflict, there are no victors, and opposing global trends will lead only to self-isolation, asserted Chinese President Xi Jinping during his meeting with Spanish Prime Minister Pedro Sanchez on Friday.
In a decision that could amplify global instability, China will impose additional tariffs on US products starting April 12, raising the total effective rate to 125 percent. This announcement follows US President Donald Trump's145 percent tariff on Chinese goods.
Over the past seventy years, Xi noted, China has achieved growth through self-reliance and rigorous effort, never depending on the kindness of others or fearing unjust oppression, as reported by the Xinhua news agency.
Regardless of external changes, Xi emphasized that China will maintain its confidence and focus on effectively managing its own affairs.
Highlighting the significant economic roles of both China and the European Union (EU), Xi stated that the two have developed a close economic interdependence, with their combined output accounting for over a third of global production.
He urged China and the EU to meet their international obligations, collaborate to protect economic globalization and the global trade landscape, and jointly resist unilateral aggressions.
This cooperation not only protects the legitimate interests of China and the EU but also strives to uphold fairness and justice in the international arena while adhering to global rules and order, according to Xi.
Sanchez remarked that China is a vital partner for the EU, with Spain consistently advocating for stable EU-China relations.
He reaffirmed the EU's dedication to open and free trade, its commitment to multilateralism, and its opposition to unilateral tariff increases, stating that no one wins in a trade war.
In light of the complicated global landscape, Spain and the EU are keen to enhance dialogue and cooperation with China to uphold the international trade order, address challenges like climate change and poverty, and protect shared international interests.
