China President Xi Jinping said on Tuesday, the 13th, that “there are no winners in tariff wars,” during his first public statement after the deal negotiated over the weekend with the United States.
Xi asked the countries of Latin America and the Caribbean to promote stability and peace. He spoke at the opening of the China-Celac Ministerial Forum, which brings together in Beijing Latin America and Caribbean, including President Luiz Inacio Lula da Silva.
The Chinese president did not mentions homologist Donald Trump or the United States, but used his speech to send an implicit message. The Chinese also said that “intimidation and hegemonism only lead to self-insulation.”
Commercial envoy from China and the United States have reached an agreement in Switzerland over the trade war fired by Trump through the tariff. Countries agreed to reduce the level of reciprocal rates for 90 days.
Chinese products went from 145% to 30%. Americans, from 125% to 10%. Delegations from both countries negotiated during the weekend in Switzerland.
Members of the Planalto Palace heard by Estadão/Broadcast Interpret the hit is positive, as it demonstrates that if it was possible the US if you understand with the largest target of tariffs is a sign that it can occur with the others. China had been the most taxed country, while Brazil received 10%, the lowest level. However, President Lula counselors point out that the agreement can be reversed at any time and emphasize Trump’s volatility.
