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No country can win a trade war: China's vice premier on US tariffs

The United States has levied additional duties of between 10% and 25% on $250 billion of Chinese goods this year

Reuters  |  Hamburg, Germany 

China's Vice Premier Liu He told an economic conference in Hamburg on Tuesday that protectionist and unilateral approaches on trade would only deepen economic uncertainty, saying no country could emerge as a winner in a trade war. "We believe that protectionist and unilateral approaches do not offer solutions to problems on trade. On the contrary, they will only bring about more economic uncertainty to the world," Liu said. "The history of economic development has proven time and again that raising tariffs will only lead to economic recession and no one ever ...

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First Published: Wed, November 28 2018. 06:53 IST