Key points
- Tariff wars undermine rights, interests of all countries: Xi
- US has imposed additional tariffs of 145pc on many products from China
- Washington is “doing very well in respect to a potential trade deal with China”: White House
ISLAMABAD: Chinese President Xi Jinping has said tariffs “hurt” the multilateral trading system as he hosted his Azerbaijani counterpart for talks in Beijing, Chinese media reported.
According to Xinhua news agency, Chinese President told Azerbaijani President Ilham Aliyev that tariff and trade wars “undermine the legitimate rights and interests of all countries, hurt the multilateral trading system, and impact the world economic order.”
AFP reported since Trump’s return to the White House in January, the US has imposed additional tariffs of 145 per cent on many products from China.
Tariffs and trade wars undermine the legitimate rights and interests of all countries, hurt the multilateral trading system, and impact the world economic order.” – Chinese President Xi Jinping
China has responded with sweeping counter-tariffs of 125 per cent on US goods. But Trump acknowledged Tuesday that 145pc was a “very high” level, and that this will “come down substantially.”
“It won’t be zero”
“They will not be anywhere near that number,” but “it won’t be zero,” the president said.
“Ultimately, they have to make a deal because otherwise, they’re not going to be able to deal in the United States.”
AFP reported that on Tuesday, White House Press Secretary Karoline Leavitt told reporters that Washington is “doing very well in respect to a potential trade deal with China.”
“The president and the administration are setting the stage for a deal,” she said, noting that “the ball is moving in the right direction.”
She said the feeling was that parties involved want to see a trade deal happen, though China has as of yet not confirmed that it is negotiating with the United States, AFP reported.
