Trade War between U.S.-China: No One will Win, Says China

With U.S. President-elect Donald Trump’s promised trade stand leading to a potential global trade war between the U.S. and China, China has on Tuesday said that neither the U.S. nor China will win the trade war, news organisations have reported.

U.S. President-elect Trump has threatened to impose an additional 10% tariff on all Chinese imports when he enters office on January 20.

"About the issue of US tariffs on China, China believes that China-US economic and trade cooperation is mutually beneficial in nature," Chinese Embassy Spokesperson Liu Pengyu’s statement was quoted by news reports. "No one will win a trade war or a tariff war."

The U.S. alleges that China is peddling illegal drugs, fentanyl, into the United States. Unless China stops the peddling of the illegal drugs, the U.S. will impose additional 10% tariff in all imports from China.

In fact, China is already in a trade war with the U.S. even without what President-elect Trump’s pledged for additional tariff on imports from China. It has spread its trade in South America, particularly with countries like Peru and Brazil. In fact, Trump’s “America First” slogan appears more directed towards nations including China.