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10 Apr, 2018 14:59

China warns US against ‘arrogance’ amid trade standoff

China warns US against ‘arrogance’ amid trade standoff

In his first public remarks since the beginning of the tariff dispute with the United States, the president of China has issued a veiled warning to US President Donald Trump with a promise to lower levies.

Speaking at the Boao Forum for Asia, the Chinese leader called on other countries to refrain from “seeking dominance” and “reject power politics.” He added that “arrogance... will get [you] nowhere.”

“The Cold War and zero-sum mentality looks out of place in today’s world. Arrogance or only focusing [on] one’s own interests will get nowhere. Only peaceful development and cooperation can truly bring win-win or all-win results,” said Xi Jinping.

He added that China would lower import tariffs on vehicles, encourage imports, as well as strengthen the protection of intellectual property.

His remarks come as the White House claimed earlier that Beijing would back down. Trump said in a tweet on Sunday: “China will take down its trade barrier because it is the right thing to do... A deal will be made on trade.”

Trump has also denied that the US is entering a trade war with China, and claimed that the ongoing dispute would soon be water under the bridge between the two countries’ leaders.

The next day, he described China’s behavior not as free or fair trade, but as “stupid trade.”

US has threatened to hit a number of Chinese goods with $60 billion in import tariffs, to which Beijing responded with a $50-billion tariff package of its own.

For more stories on economy & finance visit RT's business section