There are no winners in the trade war, China’s vice premier warns, as Trump threatens tariffs

BEIJING – China’s Vice Premier Ding Xuexiang has warned there are no “winners” in the trade war as the world’s second-largest economy faces the prospect of tariffs under the newly inaugurated administration of Donald Trump.

Ding said these words during his speech on Tuesday at the World Economic Forum in Davos, Switzerland.

Ding, who said that he attended Davos for the second time, is one of the four vice premiers of China. China the economy struggled with weak consumption and a slump in real estate. Despite this, the country GDP officially increased by 5% after stimulus announcements that began in late September last year.

This latest news is being updated.