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Chinese leader Xi Jinping has broken his silence on the deepening trade war with the United States, saying there will be “no winners.”
He warned President Donald Trump that China is “not afraid”—and shortly after his statement, Beijing announced reciprocal tariffs of 125% on all U.S. imports.
“There are no winners in a trade war, and going against the world will only lead to self-isolation,” Xi said on Friday, according CCTV, China’s state broadcaster.
“For over 70 years, China’s development has relied on self-reliance and hard work—never on handouts from others, and it is not afraid of any unjust suppression.”
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Since Trump became president, tariffs have been a major part of his policy offering and his implementation of tariffs on China has sparked an escalating trade war.
Trump previously raised the tariff on Chinese goods to 104 percent on Wednesday and after China responded with a hike of its own on U.S. goods to 84 percent, Trump increased the tariff rate on Chinese imports to 125 percent.
This came despite Trump announcing he was pausing most of his tariffs on U.S. trade partners for 90 days.
Xi’s comments were made during a conference on Wednesday. While he did not address the U.S. tariffs in name, he said that he wanted to strengthen strategic bonds with neighboring nations. “We are entering a pivotal stage deeply intertwined with shifts in regional dynamics and global developments,” the statement read.
This is a breaking news story—more to follow.
