The world's two biggest economic powers have now slapped tit-for-tat tariffs on a combined $100 billion of products since early July, with more in the pipeline, adding risks to global economic growth.
Chinese Foreign Minister Wang Yi told to the UN General Assembly on Friday that his country will not yield to pressure as it fights a multi-billion dollar trade war with the United States.
“International trade is complementary and win-win by nature. It should not be a zero-sum game in which one gains at the expense of others, and no one should be allowed to place its own interest above the interest of others. Protectionism will only hurt oneself, and unilateral moves will bring damage to all,” he said.
TRT World’s Nicole Johnston reports from New York.
US President Donald Trump has imposed three rounds of trade tariffs on Chinese products, blaming the country for unfair trade practices.
Washington is demanding Beijing improve market access and intellectual property protections for US companies, cut industrial subsidies and slash a $375 billion trade gap.
The world's two biggest economic powers have now slapped tit-for-tat tariffs on a combined $100 billion of products since early July, with more in the pipeline, adding risks to global economic growth.
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