Chinese President Xi Jinping has expressed concern about the negative impact of tariff wars on the international trading system and the economic order. He stated this at a meeting with Azerbaijani President Ilham Aliyev in Beijing, Xinhua news agency reports.
According to Xi Jinping, tariff and trade wars damage the legitimate rights and interests of all countries, destabilizing the multilateral trading system. The Chinese leader stressed that such actions undermine the global economic order and called for joint efforts to protect it. Xinhua news agency quotes the chairman, who expressed the willingness of China and Azerbaijan to uphold the principles of the United Nations and international law, fighting for justice.
Tensions in international trade have increased following the introduction of new customs duties by US President Donald Trump. Since April 5, universal tariffs of 10% have been in effect for products from 185 countries and territories, with the exception of Russia. In response, China increased duties on goods from the United States to 125%. Trump temporarily suspended additional duties for 90 days for a number of countries in order to conduct trade negotiations, but the universal tariff of 10% remains in force.
