No Winners in Trade, Industrial Wars, Says China's Ambassador to US

Photo : EPA

China’s Ambassador to the United States, Xie Feng, stated that there are no true winners in trade wars, tariff disputes, or conflicts over industries and technological advancements. His comments came after the announcement of Donald Trump's victory in the U.S. presidential election. In his speech at a U.S.-China Business Council dinner, Xie focused on the need for cooperation between the two largest economies to tackle global challenges such as climate change and advancements in artificial intelligence, rather than engaging in confrontation or competition.

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While he refrained from directly addressing the election results or commenting on Trump’s return, the ambassador emphasized that the U.S. and China have vast potential for collaboration in numerous areas. Xie suggested that the two nations could achieve remarkable successes together, and stressed that the list of cooperative efforts between the two countries should continue to expand.

Xie’s comments also touched on the history of the U.S.-China trade war, which Trump initiated in 2018. This economic confrontation, which led to significant tariffs on Chinese goods, was one of the defining features of Trump’s first presidency. While the U.S. and China reached a truce just before the onset of the COVID-19 pandemic in January 2020, the specter of renewed tensions looms as Trump has indicated he may impose blanket tariffs of 60% on Chinese imports if he returns to office. These tariffs would represent a significant escalation from the 7.5% to 25% tariffs imposed during his initial term, which could have a substantial impact on China's economic growth.

In a more optimistic tone, Xie highlighted the success of U.S. companies operating in China as examples of the potential for mutually beneficial cooperation. He pointed to the expansion of McDonald’s in China, which has added more stores than any other region globally, accounting for 60% of the chain’s new outlets worldwide. Additionally, Shanghai has become the only major city globally with over 1,000 Starbucks locations. These success stories, according to Xie, showcase the tangible benefits of economic collaboration between the two nations.

Xie also reflected on the differences between China and the United States, urging both countries to view these differences not as obstacles but as opportunities for dialogue and mutual learning. Rather than allowing differences to fuel confrontation, Xie stressed that they should be seen as a way to deepen understanding and foster exchanges between the two countries.

Overall, Xie’s remarks painted a picture of a future where cooperation, rather than conflict, guides the relationship between China and the U.S., emphasizing that both nations stand to benefit from such a partnership.

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