Chinese Vice Premier Ding Xuexiang emphasized the negative repercussions of a trade war, stating that there are “no winners” in such conflicts. This comes as China faces potential tariffs from the newly inaugurated administration of Donald Trump.

Ding delivered this message during a speech at the World Economic Forum in Davos, Switzerland on November 12, 2024. He highlighted the importance of cooperation and dialogues in addressing economic challenges.

As one of China’s four vice premiers, Ding’s remarks reflected the country’s efforts to navigate economic difficulties, including sluggish consumption and a real estate downturn. Despite these challenges, China officially reported a 5% GDP growth last year, supported by stimulus measures introduced since September.

Stay tuned for updates on this developing story.