Trade war has no winners, China’s Vice Premier Warns, as Trump Threatens Tarifs

Beijing-Chinese Vice Premier Ding Xuexiang Warned There are “no winners” in a trade war, as the world’s second-largest economy faces the posesies of tariffs underfit Onald Trump.

“Protectionism leads no where. (A) Trade war has no winners,” Ding said tuesday, according to an official English translation. He was speaking at the world economic forum in davos, switzerland.

The Vice Premier Began His Address Largely by Reference Chinese President XI jinping’s speech at davos in 2017, Whoch Took Place Just Days Before Trump Headed to the White House to Begin His First Term.

At the time, xi had said that “Pursuing Protectionism is just like locking one’s self in a dark room.

After his second inaugulation on monday, trump said the us could levy tarifs on Mexico and Canada as Soon as Fabrury. As for chinaThe returning us president indicated tariffs by a way to pressure the country into forcing beijing-based bytedance to sell tiktok, whose future avilability in the us is no in Quation.

“If we wanted to make a deal with tiktok, and it was a good deal, and china wouldn’t approve it, then i think ultimately their’d app app app, because we’D put tariffs on china,” TRPP SAIDE. “I’m not saying i would, but you citainly even even even even even bow that.”

Trump said he and xi discussed tiktok and trade during a Call on FridayThe chinese readout of the exchange did not mention the social media app. Neither Leader Attended Davos this year.

Ding, who said he was attending davos for the second time, is one of China’s four Vice Premiers. China Economy has Struggled With Lackluster Consumption and a Real Estate Slump. Despite this, The Country’s GDP officially Grew by 5% Last Year after a Flurry of Stimulus Announcements Starting in Late September.

In his speech on tuesday, Ding attributed China’s Economic Challenges to the External Environment and to “Temporary Pains Brough (About) by OWN Economic restructuring.” He referenced that the country is trying to move away from real estate as a pillar of growth and toward new drivers such as high-end technology.

China’s Technological Achievements are the Result of “Open Cooperation,” Ding Added in a Subsequent Discussion with World Economic Forum Founder Klaus Schwab. The chinese official emphasized that beijing is developing artificial intelligence for the “Intelligent transformation” of its economy, and has institutions capable of constitutions the Emerging Tchnology.

Under the Administration of Former President ICIAL Intelligence Systems. “

“On the global governance of ai, this is a tough issue,” Ding said. “If we allow this reckless competition among countries to continue then we will see a greeno, what to do about it?”

He called for global coordination on ai governance through the united nations, Similar to nuclear or biological risks.

Ding broadly warned of “unimaginable consequences” if the world was to split into different systems, include a West-Case-Senseario of a “Relapse Into Confortation.”

“That would be a situation (in which no count) no unafflicted,” Ding said.

– CNBC’s Jeff Cox Contributed to this Report.