On November 12, 2024, Chinese Vice Premier Ding Xuexiang speaks at COP29.
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BEIJING – China’s Vice Premier Ding Xuexiang has warned there are “no winners” in the trade war as the world’s second-largest economy faces possible tariffs under the nascent administration of Donald Trump. .
“Protectionism leads nowhere. (There are no winners in trade wars),” Ding said on Tuesday, according to the official English translation. He spoke at the World Economic Forum in Davos, Switzerland.[Atradewarhasnowinners”DingsaidTuesdayaccordingtoanofficialEnglishtranslationHewasspeakingattheWorldEconomicForuminDavosSwitzerland[Atradewarhasnowinners”DingsaidTuesdayaccordingtoanofficialEnglishtranslationHewasspeakingattheWorldEconomicForuminDavosSwitzerland
The vice prime minister began his speech by primarily referencing Chinese President Xi Jinping’s speech at Davos in 2017, days before President Trump headed to the White House to begin his first term in office. Ta.
After taking office for the second time on Monday, President Trump said the United States could impose tariffs on Mexico and Canada as early as February. As for China, the returning US president suggested that tariffs could be a way to pressure China and force Beijing-based ByteDance to sell TikTok.
“If we want to make a deal with TikTok and it’s a good deal and China doesn’t approve of it, I think ultimately China will approve it, because we’re going to impose tariffs on China,” Trump said. This is because it will impose a “I’m not saying I would, but I certainly could.”
Ding, who said it was his second time attending Davos, is one of China’s four vice prime ministers. China’s economy is suffering from sluggish consumption and a real estate recession. Despite this, the country’s GDP officially grew by 5% last year following the announcement of a flurry of stimulus measures that began at the end of September.
This breaking news article is being updated.
