Beijing, May 13 (EFE).- Chinese President Xi Jinping made his first remarks Tuesday following the tariff reduction agreement reached between his country and the United States to stem the trade war, speaking about the consequences of intimidation from states.
During his opening speech at the Fourth Ministerial Forum of China and the Community of Latin American and Caribbean States, Xi said that “there are no winners in a trade war,” a day after Washington and Beijing announced a truce that includes a tariff reduction to 30 percent and 10 percent.
“Faced with a situation of multiple intertwined risks, only through solidarity and cooperation can global peace and stability be protected,” the Chinese president said in the presence of the presidents of Brazil, Chile, and Colombia, who are attending the meeting.
The statements come after China and the US reached an agreement in Switzerland to reduce their mutual tariffs by 115 percent for 90 days, a step seen as the beginning of a process to repair their trade differences.
The United States agreed to reduce its tariffs on Chinese products from 145 percent to 30 percent, while China agreed to reduce them to 10 percent from the current 125 percent.
This reduction will take effect Wednesday and will initially last for a period of 90 days, during which both countries will attempt to resolve other outstanding issues in their economic and trade relations.
Likewise, US President Donald Trump said Monday that relations with China are “very good” and added that he would speak with Xi “perhaps at the end of the week.” EFE
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