Trade War Will Produce ‘No Winners,’ China’s Xi Tells APEC
- President rails against tariffs, threats to economic ties
- Disagreements need to be resolved through consultation: Xi
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China’s President Xi Jinping said a trade war will produce “no winners” and called for nations to uphold a rules-based order led by the World Trade Organization.
Implementing tariffs and cutting economic ties “is a short-sighted approach and it is doomed to failure,” Xi said at the Asia-Pacific Economic Cooperation CEO summit on Saturday in Papua New Guinea. Protectionism and unilateralism were overshadowing global growth, and a policy of erecting economic barriers was doomed to fail, Xi said.