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Premier says trade war has no winner

Updated: Jul 6,2018 7:22 PM     Xinhua

SOFIA — Premier Li Keqiang said on July 6 that no one will win by fighting a trade war, yet China will take counter measures in the face of unilateral moves.

He made the remarks at a joint news conference with Bulgarian Prime Minister Boyko Borissov, during which the two leaders positively evaluated the outcomes of their meeting held in the Bulgarian capital of Sofia in the morning.

While addressing the issues of safeguarding multilateralism and free trade, opposing protectionism and containing trade disputes, Premier Li said China never initiates trade disputes, let alone provoking a trade war.

However, if the other side provokes a trade war by imposing additional tariffs, China will definitely take countermeasures, added the Premier.

That, he said, is to defend not only China’s development interests but also the rules of the World Trade Organization.

No winner will emerge from a trade war, which will not only harm businesses and consumers on both sides but affect the recovery process of the world economy, Premier Li said.

Should any party insist on staging a trade war, that will only end up harming not just others but also itself, added the Premier.

No matter how the external circumstances change, China will stay firmly committed to deepening reform and further opening up, properly manage its own affairs, and keep the Chinese economy stable with good momentum for growth, he said.

The Premier arrived in Bulgaria on July 5 for an official visit to the European country, and to attend the seventh leaders’ meeting of China and 16 Central and Eastern European countries.

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