Chinese PM warns against escalated tensions in global trade
Beijing - Saba:
Chinese Premier Li Keqiang warned on Wednesday of the "escalation" of global trade tensions.
During the opening of the World Economic Forum in Tianjin (northeastern China), Li said, "Protectionist measures are increasing significantly, and frictions in the global economy and trade are intensifying." He emphasized that "the global economy is highly interconnected, and no country can grow or prosper alone."
He pointed out that the global economy is "experiencing profound changes," an implicit reference to the tariffs imposed by US President Donald Trump on its trading partners, which particularly target Chinese products.
The World Economic Forum meetings, also known as "Summer Davos," are being held this week, with the participation of a number of political leaders and economic figures from around the world.
The Chinese Premier explained that "when the global economy faces difficulties, what we need is not the law of the jungle, where The weakest are prey to the strongest, but rather cooperation."
He also emphasized that his country seeks to develop domestic demand and become a "consumer superpower."
He said, "The Chinese economy continues to grow, providing strong support for the accelerated recovery of the global economy."
The World Economic Forum meetings in Tianjin come several months after US President Donald Trump launched a trade war against his country's trading partners and rivals, most notably China.
Beijing and Washington agreed to a temporary trade truce after successive tariff increases by both sides disrupted global supply chains.
Whatsapp Telegram Email Print
more of (International)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Saba Yemen
12 hours ago
- Saba Yemen
Trump expects Gaza ceasefire agreement next week
Washington - Saba: US President Donald Trump stated that a ceasefire agreement in Gaza is close and could be reached next week. When asked about how close he and his administration were to reaching a ceasefire agreement in Gaza, Trump told reporters: "We believe that within the next week we will be able to reach a ceasefire." On May 16, the Israeli army announced the launch of a new, large-scale offensive against the Gaza Strip, dubbed Operation Gideon. This included intensive strikes and the transfer of forces to control areas within the Strip. Whatsapp Telegram Email Print
Saba Yemen
a day ago
- Saba Yemen
Trump announces immediate end to all trade talks with canada
Washington - Saba: U.S. President Donald Trump announced the immediate termination of all trade discussions with Canada in response to Ottawa's decision to impose a digital services tax targeting American tech companies. In a post on the social media platform "Truth Social" on Friday, President Trump described Canada's digital services tax as a "direct and brazen attack on the United States." Trump stated, "Based on this outrageous tax, we are hereby ending all trade discussions with Canada, effective immediately." He added, "We will inform Canada of the tariffs they will pay to deal with the United States within the next seven days." The U.S. president further remarked, "We have just been informed that Canada—a country that has been very difficult to trade with, especially as it has imposed tariffs of up to 400% on our dairy farmers for years—has announced it will impose a digital services tax targeting American tech companies. This is a direct and blatant assault on our country." He continued, "Clearly, they are copying what the European Union did by imposing the same tax, which is now also in discussions with us on this matter." Canadian Prime Minister Mark Carney had announced last Monday that he and President Trump agreed to work toward a new economic and security agreement between their two countries within 30 days. The two leaders had met earlier on the sidelines of the G7 Summit in Alberta, where Trump reiterated his insistence on tariffs. A statement from the Canadian Prime Minister's Office said, "Prime Minister Carney and President Trump exchanged updates on key issues in the negotiations for a new economic and security relationship between Canada and the United States." Notably, the total value of U.S. goods trade with Canada reached approximately $762 billion in 2024, according to the Office of the U.S. Trade Representative. Meanwhile, the U.S. president escalated his threat to increase tariffs on certain countries by the July 9 deadline. Trump's remarks on Friday are the latest indication that some negotiations with major partners may extend beyond early July. However, the U.S. president is considering higher tariff rates for smaller economies that have not reached agreements with the United States. During a press conference at the White House, Trump stated, "At some point in the next week and a half, or maybe sooner, we will send a message. We have spoken with many countries, and we will simply inform them of what they must pay to do business with the United States." Whatsapp Telegram Email Print
Saba Yemen
a day ago
- Saba Yemen
China's Iranian oil imports rise to record high despite sanctions
Beijing – Saba: Analysts confirmed on Friday that China's Iranian oil imports rose significantly in June, driven by increased demand from independent refineries and accelerated shipments ahead of the recent Israeli aggression against Iran. Data from ship-tracking company Vortexa showed that China, the world's largest oil importer, received more than 1.8 million barrels per day (bpd) of Iranian crude between June 1 and 20, the highest level on record, according to the company's data, according to Reuters. The agency reported that global oil company Kpler indicated that imports of Iranian crude oil and condensate averaged 1.46 million bpd through June 27, compared to 1 million bpd in May, reflecting a significant increase in imported quantities. Analysts at both companies expect imports to remain at high levels, given that cargo loadings have continued at a robust pace since May. For his part, US President Donald Trump said last Wednesday that Washington had not retreated from its maximum pressure policy toward Iran, including restrictions on its oil exports. However, he indicated the possibility of limited relaxation in the implementation of sanctions, with the aim of "helping rebuild the country," as he put it. Whatsapp Telegram Email Print
