Xi Jinping Says China 'Not Afraid' Of Tariffs

Chinese leader Xi Jinping has said his nation is “not afraid,” in his first public comment on the escalating trade war with the United States that has tanked international markets and fueled fears of a global recession.

“There are no winners in a trade war, and going against the world will only lead to self-isolation,” Xi told Spanish Prime Minister Pedro Sanchez in Beijing on Friday, according to state broadcaster CCTV.

“For over 70 years, China’s development has relied on self-reliance and hard work — never on handouts from others, and it is not afraid of any unjust suppression,” Xi added.

China and US have been engaged in a tit-for-tat tariff battle in recent weeks, but until now the Chinese leader had remained publicly silent. Xi has struck a defiant note in his first remarks, doubling down on messages of strength and resilience already broadcast by Chinese officials and state media.

“Regardless of how the external environment changes, China will remain confident, stay focused, and concentrate on managing its own affairs well,” Xi was quoted as saying by CCTV.

As the rest of the world received a 90-day reprieve from Trump’s “reciprocal” tariffs this week, the president moved to escalate levies on Chinese imports to 145%. In retaliation, Beijing announced curbs Thursday on the import of Hollywood movies, after having hiked its own tariffs on the US to 84% and restricted some American firms from doing business in China or importing Chinese dual-use goods.

The unprecedented tariffs threaten to decimate trade between the world’s two largest economies and further damage relations in other areas, with no obvious offramp in sight.

Source: CNN