‘No winners in tariff wars’: Xi Jinping urges unity to secure global peace
Chinese President Xi Jinping has called for nations to unite in the pursuit of global peace and stability, simultaneously critiquing the United States (US) by asserting that “there are no winners in tariff wars”. His remarks were made at the commencement of the fourth ministerial meeting of the China-Celac Forum in Beijing on Tuesday. In his address to leaders from Latin America and the Caribbean, Xi underscored that bullying and hegemonic behaviour “only leads to self-isolation.” His speech marked his initial public reaction subsequent to the recent trade discussions between the US and China that took place over the weekend. “The world is undergoing a century of rapid change, with multiple risks compounding one another.” “Only through solidarity and cooperation can countries maintain world peace and stability,” Xi said, as quoted by the South China Morning Post.
His remarks come in the wake of the US and China declaring a 90-day suspension on a portion of their existing tariffs. US Treasury Secretary Scott Bessent stated that the two nations not only reached an agreement to temporarily suspend specific tariffs but also to substantially lower existing rates. Bessent noted that the tariff reductions would be reciprocal, with both parties lowering rates by 115 percentage points. The US will reduce tariffs on Chinese goods from 145 per cent to 30 per cent, while China will lower tariffs on US imports from 125 per cent to 10 per cent. Bessent characterized the negotiations as respectful and productive.
Xi emphasized the shared characteristics between China and nations in Latin America and the Caribbean, characterizing them as important constituents of the Global South. He emphasized that development was a “inherent right” of these nations, asserting that fairness and justice were common values. China, he stated, is ready to work alongside these nations in addressing escalating geopolitical tensions, bloc rivalries, and the increasing wave of unilateralism and protectionism. He presented five essential cooperation programmes to be implemented over the forthcoming three years, which include global coordination, trade and infrastructure development, cultural exchanges, and people-to-people engagement, according to the report. “We will work with [Latin American and Caribbean] countries to firmly safeguard the international system… and to speak with one voice in international and regional affairs,” Xi said.
China is set to extend 66 billion yuan (approximately $9.14 billion) in credit to nations in Latin America and the Caribbean, while also enhancing law enforcement collaboration via training and equipment provisions. It will also provide visa-free access to citizens of five countries. Xi emphasized that more than 200 infrastructure projects under the Belt and Road Initiative (BRI) have generated over a million jobs. Trade has surged to over $500 billion. “We unite in tough times to conquer challenges through mutual support,” he stated.
Looking ahead, Xi underscored the importance of future collaboration in sectors such as clean energy, the digital economy, and artificial intelligence, while also highlighting the continued efforts in food and agriculture. Regional leaders, encompassing the presidents of Brazil, Colombia, and Chile, expressed their endorsement of Xi’s appeal for unity. Colombian President Gustavo Petro, an important ally of the United States, called on nations to steer clear of detrimental trade practices and military intimidation. “We must not destroy our trade or threaten each other with bombs,” he stated, while also declaring Colombia’s participation in the BRI. Chilean President Gabriel Boric cautioned about the dangers of global fragmentation while advocating for fair trade and national sovereignty, asserting, “It cannot be just decided by one or two countries.”
Xi’s remarks reflect China’s overarching strategy to bolster alliances in the Global South, especially in the context of persistent tensions with the US. In light of the recent trade discussions that have resulted in a temporary 90-day pause and mutual tariff reductions, the competitive dynamics between the two powers continue to be robust. The United States maintains its influence in Latin America, as reports suggest it is pressuring Panama to diminish what is seen as Chinese control over its canal, the report stated.
China’s foreign ministry has confirmed that top diplomat Wang Yi will chair a meeting with foreign ministers from more than 30 Celac member states. In a commentary published by People’s Daily, Wang praised the robust mutual support between China and the region, juxtaposing China’s approach with that of unnamed powers which he claimed bring “negative energy”. Wang contended that China’s investments are devoid of political conditions, positioning the nation as a “reliable friend” and a “partner for long-term cooperation.” He advocated for solidarity in opposition to hegemonic practices and encouraged nations to align with China in standing “on the right side of history”.
On the occasion of its 10th anniversary, the China-Celac Forum gathered in Beijing, featuring prominent leaders from Latin America and the Caribbean. China is anticipated to formalize several cooperation agreements concerning technology, artificial intelligence, and trade. Assistant Foreign Minister Miao Deyu stated that the meeting conveys “a clear message of China and the Celac countries working together in solidarity to jointly address global challenges” and that both parties oppose “unilateralism and economic bullying”.
