The Chinese Embassy in Washington said Monday that no one will win a trade war or a tariff war, shortly after U.S. President-elect Donald Trump threatened on the same day to slap an additional 10 percent tariff on all Chinese imports when he takes office in January.
In a post on social media, Trump threatened to impose a 25 percent tariff on all goods from Mexico and Canada and an additional 10 percent tariff on Chinese products on Jan 20, 2025, his inauguration day as part of his effort to curb illegal immigration and drugs.
In response, Chinese Embassy Spokesman Liu Pengyu said in a statement that China believes that China-U.S. economic and trade cooperation is mutually beneficial in nature, noting "No one will win a trade war or a tariff war".
Liu said the counternarcotics authorities of China and the US have resumed regular communication since the San Francisco Summit in 2023 between Chinese President Xi Jinping and U.S. President Joe Biden.
The Chinese side has notified the U.S. side of the progress made in U.S.-related law enforcement operations against narcotics, Liu said.
China has responded to U.S. request for verifying clues on certain cases and taken action, said the spokesman, noting all these prove that the idea of China knowingly allowing fentanyl precursors to flow into the U.S. runs completely counter to facts and reality.
'No one will win a trade war': Chinese Embassy says after Trump vows more tariffs
'No one will win a trade war': Chinese Embassy says after Trump vows more tariffs
'No one will win a trade war': Chinese Embassy says after Trump vows more tariffs
'No one will win a trade war': Chinese Embassy says after Trump vows more tariffs
China has played a critical role in facilitating the smooth operation and stability of global industrial supply chains, according to experts attending the second China International Supply Chain Expo (CISCE), which is running from Tuesday to Saturday.
Themed "Connecting the World for a Shared Future," the expo, hosted by the China Council for the Promotion of International Trade (CCPIT), will see the participation of more than 600 companies, up about 20 percent from the first expo in 2023, according to the CCPIT.
Foreign exhibitors will account for 32 percent of the total, compared with 26 percent a year earlier. U.S. companies will contribute the largest share of overseas participation, while the number of businesses from Europe and Japan has also increased significantly this year.
Speaking with China Media Group (CMG) on the sidelines of the event, experts from Britain and United States said China has played a key role in the global supply chain.
"I think China will remain a critically important part of global supply chains. I think that is clear. China now has very, very strong clusters of capabilities in different industries, particularly important, of course, in certain new areas of technology, renewable energy, carbon transition," said Sebastian Wood, the vice chairman of the China-Britain Business Council (CBBC).
"In China (they) have built manufacturing and supply chains here, and so China continues to be an important sourcing market for U.S. companies. China continues to be an important part of the overall supply chain for U.S. companies. So the supply chain expo is to both celebrate that and continue to look into more details about how those can be enhanced," said Michael Hart, the president of the American Chamber of Commerce (AmCham).
At the opening ceremony of the expo on Tuesday, a "Beijing Initiative" was released to promote international cooperation in industrial and supply chains. The initiative proposes to fully tap the potential for cooperation in the fields of digital economy and cross-border e-commerce, accelerate the exploration of industrial applications of artificial intelligence technology, establish an inclusive digital economic ecosystem, and further empower the upgrade of the industrial chain and supply chain. It calls for efforts to accelerate green-tech innovation and the promotion and application of advanced clean technology solutions to promote the green transition of the industrial chain.
Int'l experts hail China's role in securing global supply chains
