China slams ‘unilateralism’ in jab at US
China’s Premier Li Keqiang has slammed “unilateralism,” as a trade war between his country and the United States escalates.
“It is essential that we uphold the basic principles of multilateralism and free trade,” Li said in a speech at the summer session of the World Economic Forum in the eastern city of Tianjin, also known as the “summer Davos,” on Wednesday.
He said unilateralism would not offer solutions to problems, which he said had to be worked out through consultations.
The Chinese premier said the trend of globalization was unstoppable.
Li’s remarks came shortly after China and the US swapped blows in tariffs.
On Monday, US President Donald Trump announced his decision to slap new tariffs on 200 billion dollars’ worth of Chinese goods, on top of 50 billion dollars imposed earlier.
A day later, China retaliated with tariffs of 60 billion dollars on American products.
Trump, who himself has initiated the trade war with China, then bizarrely accused Beijing of seeking to influence midterm elections in the US in 2018 by imposing the retaliatory tariffs.
The businessman-turned-US president has said he is ready to put tariffs on virtually all Chinese goods if Beijing does not back down or take steps to reduce its 335-billion-dollar trade surplus with the US.
The two sides have launched talks to resolve the trade dispute but have not advanced. Trade talks in Washington ended in a stalemate last month over earlier US tariffs.
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