There will be no winner if a trade war breaks out between China and the US, said Chinese Premier Li Keqiang yesterday, urging Washington not to act “emotionally”..
There will be no winner if a trade war breaks out between China and the US, said Chinese Premier Li Keqiang yesterday, urging Washington not to act “emotionally”.
Using “war” in the context of trade goes against its basic rules, which are based on negotiation, consultation and dialogue, Mr Li told reporters after the end of the annual parliamentary session. “I hope both countries will act rationally instead of being led by emotions, and avoid a trade war.”
His comments came amid fears of a global trade war after US President Donald Trump imposed stiff import tariffs on steel and aluminium earlier this month.
According to media reports, Mr Trump is set to announce this week a package of US$60 billion (S$79 billion) in annual tariffs on Chinese technology and consumer goods to punish China for intellectual property infringement.
Mr Li pledged to “strictly protect” intellectual property rights and ensure that no foreign firms will be forced to transfer technology to their Chinese partners as China opens its markets wider to foreign investors.
