'No winners in tariff wars': Xi Jinping urges unity to secure global peace

Business Standard

13-05-2025

Xi Jinping calls for global unity and criticises tariff wars at the China-Celac Forum as he unveils major cooperation plans with Latin America and the Caribbean amid US tensions
New Delhi
Chinese President Xi Jinping has urged nations to come together to safeguard global peace and stability, while criticising the United States (US) by stating that 'there are no winners in tariff wars'. His comments came during the opening of the fourth ministerial meeting of the China-Celac Forum in Beijing on Tuesday.
Addressing leaders from Latin America and the Caribbean, Xi emphasised that bullying and hegemonic behaviour 'only leads to self-isolation'. His speech was his first public response following recent US-China trade discussions held 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.
The US will cut tariffs on Chinese goods from 145 per cent to 30 per cent, while China will reduce tariffs on US imports from 125 per cent to 10 per cent. Bessent described the negotiations as respectful and productive.
China and Latin America: Shared vision for development
Xi highlighted the commonalities between China and countries in Latin America and the Caribbean, describing them as significant members of the Global South. He stressed that development was an 'inherent right' of these nations, and that fairness and justice were shared values.
China, he said, is prepared to collaborate with these countries in countering rising geopolitical tensions, bloc rivalries and the growing tide of unilateralism and protectionism. He unveiled five key cooperation programmes to be pursued over the next three years, encompassing global coordination, trade and infrastructure development, cultural exchanges and people-to-people engagement, the report said.
'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.
Credit, visas and infrastructure
China will provide 66 billion yuan (about $9.14 billion) in credit to Latin American and Caribbean nations and boost law enforcement cooperation through training and equipment. It will also grant visa-free access to citizens of five countries. Xi highlighted that over 200 infrastructure projects under the Belt and Road Initiative (BRI) have created more than a million jobs.
Trade has surged to over $500 billion. 'We unite in tough times to conquer challenges through mutual support,' he said.
Expanding cooperation in emerging sectors
Looking ahead, Xi emphasised future collaboration in areas like clean energy, the digital economy and artificial intelligence, alongside ongoing work in food and agriculture. Regional leaders, including the presidents of Brazil, Colombia and Chile, supported Xi's call for unity.
Colombian President Gustavo Petro, a key US ally, urged countries to avoid harmful trade policies and military threats. 'We must not destroy our trade or threaten each other with bombs,' he said, also announcing Colombia's entry into the BRI.
Chilean President Gabriel Boric warned against global fragmentation and defended fair trade and sovereignty, stating, 'It cannot be just decided by one or two countries.'
China's strategic push in Global South
Xi's remarks align with China's broader efforts to strengthen partnerships in the Global South, particularly amid ongoing tensions with the US. Despite recent trade talks leading to a temporary 90-day pause and reciprocal tariff reductions, competition between the two powers remains strong. The US continues to exert influence in Latin America, with reports indicating pressure on Panama to reduce perceived Chinese control over its canal, the report said.
China's foreign ministry confirmed that top diplomat Wang Yi would chair a meeting with foreign ministers from over 30 Celac member states. In a commentary published by People's Daily, Wang lauded the strong mutual support between China and the region, contrasting China's approach with unnamed powers that he said bring 'negative energy'.
China's investments, Wang argued, come without political strings, making the country a 'reliable friend' and 'partner for long-term cooperation'. He called for unity against hegemonic practices and urged countries to join China in standing 'on the right side of history'.
China-Celac Forum
Marking its 10th anniversary, the China-Celac Forum convened in Beijing with top leaders from Latin America and the Caribbean. China is expected to sign multiple cooperation deals on technology, artificial intelligence and trade.
Assistant Foreign Minister Miao Deyu said the meeting sends 'a clear message of China and the Celac countries working together in solidarity to jointly address global challenges' and that both sides oppose 'unilateralism and economic bullying'.