No one can win a trade war. China has said that no one can win a trade war in response to recent tariff threats from U.S. President Donald Trump. According to Reuters, President Trump made this remark after announcing plans to levy an additional 10% duty on Chinese imports after taking office on January 20.
No one can win a trade war. “China-U.S. economic and trade cooperation is mutually beneficial,” said Liu Pengyu, a spokesman for the Chinese embassy, in a statement. Problems can never be solved by a trade war, and no one can win. China is always willing to engage in talks to settle disputes, but it will not hold back from defending its rights.
Trump made repeated promises during his campaign that, if elected, he would slap taxes on imports from a number of nations, including China. He made it plain when he took office that he would raise tariffs on products coming from Canada, Mexico, and China. Additionally, he declared that these tariffs would not be lifted until the flow of illegal substances, especially fentanyl, into the United States from China was halted.
According to Chinese spokeswoman Liu, China has taken action to stop drug trafficking since President Joe Biden and Chinese President Xi Jinping reached an agreement. China is collaborating with the United States on anti-drug investigations and has tightened control over three essential ingredients used to make fentanyl.
This year, in June, China’s top prosecutor urged law enforcement to combat drug trafficking aggressively. In addition, China declared it will further tighten control over fentanyl at a joint China-U.S. anti-narcotics summit in August.
Analysts predict that a trade war would harm the world economy in the long run. Global commerce may become unstable, especially if there are disputes between two powerful economies, such as China and the United States.
Analysts are keeping a careful eye on the likelihood of further talks between the two nations in light of China’s answer. Many believe that mutual understanding will soon fix the situation.
No one can win a trade war
