Premier Li: Trade war will harm both sides, world economy

No one will win a trade war, which will not only hurt enterprises from both sides but also the recovery of the world economy, visiting Premier Li Keqiang said Friday hours after additional US tariffs on Chinese products kicked in, with Beijing taking countermeasures immediately.

Li made the remark when meeting with the press with hosting Bulgarian Prime Minister Boyko Borisov in Sofia.

When other countries take unilateral measures to levy additional tariffs on Chinese products, countermeasures will be taken to safeguard China’s interests for development, and the authority and effectiveness of the World Trade Organization, Li said.

Though China will never take the initiative to incite trade disputes and start trade wars, he added.

If insistently pursued, a trade war will harm other countries and those who started it, he said.

Despite external changes, China will firmly conduct reform and opening-up to do its own job and keep the Chinese economy stable and promising, Premier Li added.