Chinese President Xi Jinping has issued a strong warning against the consequences of trade wars, emphasizing that “there is no winner in a tariff war” during a meeting with Spanish Prime Minister Pedro Sanchez in Beijing on Friday. His remarks come amid ongoing global economic uncertainties and rising tensions over trade policies, especially between major global economies.
President Xi reaffirmed China’s long-standing principle of self-reliance, highlighting that the country has thrived over the past 70 years not through external benevolence but through determination and perseverance. “No matter how the external world changes, China will remain confident and focused on running its own affairs well,” he stated.
Xi further pointed out the strategic economic relationship between China and the European Union (EU), noting that together, their economies contribute more than one-third of the world’s total output. He stressed the importance of this symbiotic relationship and urged both parties to jointly defend globalisation and the international trading environment.
In his call for unity, Xi denounced unilateralism and what he referred to as “unilateral bullying,” encouraging China and the EU to uphold international rules and promote fairness and justice within the global economic order.
Echoing similar sentiments, Spanish Prime Minister Pedro Sanchez emphasized the EU’s dedication to open markets and multilateralism. He reaffirmed the EU’s opposition to unilateral tariff increases and supported the idea that trade wars only lead to mutual losses. “There is no winner in a trade war,” Sanchez said, underlining the EU’s commitment to fostering stable and constructive relations with China.
Sanchez also highlighted the need for collective action in addressing global challenges, including climate change and poverty. He expressed Spain and the EU’s willingness to enhance cooperation and coordination with China to protect the international trade system and serve the broader interests of the global community.
The meeting between the two leaders signals a shared commitment to economic collaboration and multilateral diplomacy amid a turbulent international landscape, reinforcing the importance of stable EU-China relations in navigating global challenges.
