Chinese leader Xi Jinping has stated that his nation is “not afraid” of the rising U.S. tariffs on Chinese imports, despite fears of a global recession. Late Thursday, President Trump clarified that China’s tariffs would climb even further from 145% to 125%.
China also raised its tariffs on the U.S. to 125%.
“There are no winners in a trade war, and going against the world will only lead to self-isolation,” Xi remarked.
Declining negotiations with Trump, Xi instead extended the olive branch to the EU by initiating meetings with other trade partners to counter the escalating trade war. China’s leader met with Spanish Prime Minister Pedro Sanchez, during which Xi stated that the world is experiencing changes not seen in a century.
“The more complex and volatile the international landscape becomes, the more important it is to maintain sound and stable relations between China and Spain,” Xi said.
“China and the EU should fulfill their international responsibilities, jointly uphold the trend of economic globalization and the global trade environment, and work together to oppose unilateral bullying,” Xi said, “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.”
Xi concluded, “Regardless of how the external environment changes, China will remain confident, stay focused, and concentrate on managing its own affairs well.”
Treasury Secretary Scott Bessent expressed confidence that the U.S. would “work out” its trade difficulties with China.
By CEO NA Editorial Staff
