Global Trade Tensions Escalate Further Between China, US Amid Xi Jinping's Warning

Published on 4.28.25

  The multilateral trading system is facing significant challenges as tensions between major world powers continue to escalate. Chinese President Xi Jinping has expressed concerns about the impact of tariffs and trade wars on this system, highlighting the need for cooperation and fair trade practices. During a meeting with Azerbaijani counterpart Ilham Aliyev in Beijing, Xi emphasized the importance of safeguarding international trade. China's Foreign Minister Wang Yi has also urged cooperation from other nations, particularly in safeguarding international trade. The imposition of a 145% tax on Chinese imports by President Donald Trump has led to retaliatory measures from China, including a 125% duty on US goods. Beijing's commerce ministry has warned against making deals that compromise China's interests, stating "appeasement will not bring peace" and "compromise will not be respected," suggesting a hardline stance on trade negotiations. The ongoing trade tensions have impacted global finance ministers and central bankers, who are set to meet in Washington to discuss trade talks. The meeting is expected to focus on finding ways to address the challenges posed by US tariffs and promote fair trade practices.

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