Chinese President Xi Jinping warns that there are no winners in Trump’s trade war, emphasizing the need for multilateral trade cooperation during his Southeast Asia tour. Retaliatory tariffs between China and the U.S. are highlighted, and Xi’s visit aims to position China as a responsible leader amid rising global tensions. Regional nations like Vietnam are reassessing their economic dependencies and relationships in light of these developments.

Chinese President Xi Jinping has issued a stark warning regarding the ongoing trade conflict initiated by U.S. President Donald Trump, emphasizing that such a trade war results in “no winners.” This message was conveyed in an editorial published in both Chinese and Vietnamese media, as Xi prepares for a diplomatic tour of Southeast Asia aimed at positioning China as a responsible global leader.

Despite the temporary pausing of most tariffs by President Trump following a stock market decline, significant tariffs remain, notably 145 percent on various Chinese exports to the United States. In retaliation, Beijing has implemented its own tariffs of 125 percent on American goods, committing to continue the struggle against what it perceives as unfair trade practices.

“Trade war and tariff war will produce no winner, and protectionism will lead nowhere,” stated Xi in the editorial, implicitly addressing the U.S. without direct mention. He urged both nations to protect the multilateral trading system and maintain stable global supply chains amidst the economic turbulence caused by protectionist policies.

Xi’s diplomatic visit to Vietnam, originally scheduled before Trump’s recent tariffs, now holds greater significance as regional leaders assess strategies to adapt to new global economic conditions shaped by U.S. policy. According to Huong Le-Thu from the International Crisis Group, Xi’s journey is designed to contrast China’s approach to U.S. strategies perceived as coercive and self-serving.

Vietnam, while similarly governed by a one-party state, has successfully aligned with both China and the U.S., showcasing strong economic growth as companies shift their supply chains from China to Vietnam. Trump’s trade advisor previously urged countries like Vietnam to cease permitting China to evade U.S. tariffs by reallocating exports through their territories. After Vietnam, Xi’s itinerary includes visits to Cambodia and Malaysia, underscoring the importance of reinforcing relationships in the region during this economic crisis.

In summary, President Xi Jinping’s diplomatic tour underscores China’s stance against the detrimental effects of the trade war initiated by the United States. Xi’s warnings against protectionism reflect a broader effort to bolster China’s image as a stable and responsible superpower. The ongoing tensions require regional leaders to navigate their economic strategies wisely in the shadow of U.S. trade policies.

Original Source: www.thedailybeast.com

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