Beijing, 10 December
Chinese President Xi Jinping has warned today that no one will win the tax and technology war between the US and China and Beijing will defend its interests firmly. This statement of his has come before Donald Trump once again takes over the reins of the presidency of America in January 2025. “Tax, trade and technology wars are contrary to economic law and there will be no winners,” Xi said at a meeting with the heads of 10 major international organizations including the World Bank, International Monetary Fund and World Trade Organization in Beijing. The Chinese President said that China will stand by its commitment to promote a free economy. -News-Patiala
Trump had threatened
During his presidential campaign in the US, Trump threatened to impose a 60 percent tariff on Chinese exports and warned that he would impose a 10 percent higher tax if Beijing failed to crack down on fentanyl. . Xi said that the economies of all countries face difficulties. All countries should work together to create an open world economy. -News-Patiala