The Chinese Ministry of Foreign Affairs has stated that there are no winners in a trade war or tariff battle, marking its first response to U.S. President Donald Trump’s announcement of a 10% tariff on Chinese imports to the United States.
According to China Global Television Network (CGTN) on Saturday, the ministry emphasized that such conflicts serve no party’s interests and are detrimental to the global economy.
On Friday, President Donald Trump announced a 25% tariff on Mexican and Canadian imports and a 10% tariff on Chinese imports, set to take effect on February 1st. He asserted that Canada, Mexico, and China could do nothing to prevent the decision.
Trump explained that the move aims to address the U.S. trade deficit with the three countries, curb illegal immigration, and combat the flow of fentanyl across U.S. borders.
China, Mexico, and Canada are the United States' top three trading partners, accounting for 40% of total U.S. imports last year.
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