‘No Winners’: US-China Trade War Tensions Continue To Escalate
Tensions from China’s ongoing dispute with the United States over trade have continued to escalate this week, according to multiple reports. The U.S. and China have been engaged in an ongoing trade battle , with both…
Tensions from China’s ongoing dispute with the United States over trade have continued to escalate this week, according to multiple reports.
The U.S. and China have been engaged in an ongoing trade battle, with both countries vying for an upper hand. As President Joe Biden’s term comes to an end, his administration has recently rolled out new export restrictions on China.
Chinese President Xi Jinping said Tuesday that there will be “no winners” in a U.S.-China trade war, according to Chinese broadcaster CCTV. The Chinese president criticized sanctions the U.S. has placed on Chinese companies in April, calling them an “endless stream of measures to suppress China’s economy, trade, science and technology.”
“Tariff wars, trade wars, and technology wars go against historical trends and economic rules, and there will be no winners,” Xi said Tuesday, according to Fortune. “China is willing to maintain dialogue with the US government, expand cooperation, manage differences and promote the development of China-US relations in a stable, healthy and sustainable direction.”
China has recently escalated trade tensions, with some Chinese manufacturers beginning to limit sales to Europe and the U.S. of components vital to building unmanned aerial vehicles, also known as drones, which play a vital role in Ukraine’s defense against Russia, according