China – Spain Meeting, Xi Jinping: “No Winners in Tariff War”

China and the European Union should cooperate and protect their own rights and interests. Chinese President Xi Jinping said this during a visit to Beijing by Spanish Prime Minister Pedro Sanchez.

Both countries, the Chinese leader said, should uphold “their legitimate rights and interests, as well as international justice and legal norms, as well as the international order as a whole,” Xinhua news agency reported. The Chinese leader also echoed words that have been repeatedly voiced by Chinese ministers and officials in recent days: “There are no winners in trade wars, and confronting the whole world will lead to isolation.”

Obviously, with these words he is alluding to the increased customs duties imposed by Trump, which have already reached 145%. Meanwhile, China has once again raised its retaliatory duties on US imports, from 84% to 125%, according to the country’s finance minister.

At the same time, Xi expressed hope to develop closer trade ties with the European Union, as well as with Spain itself. He said this goal could be achieved by forming a strategic partnership with Madrid and “developing China-EU relations.” “China and the EU should take on their international responsibility, jointly uphold the trend of economic globalization and international trade, and jointly resist unilateral self-rule,” Xi said.

“We believe it is necessary to continue developing strong relations between China and Spain, as well as between China and the EU,” Sanchez said for his part. “Spain’s foreign policy is not directed against anyone. It advocates mutual understanding between countries, defense of a multipolar world order and free trade.”