Swiss minister warns against tariff wars, calls for multilateral cooperation

Visiting Swiss Federal Councillor and Foreign Minister Ignazio Cassis expressed concern on Thursday, stating that a tariff war creates uncertainty for everyone and benefit no one, even the United States.

Trade wars never brought prosperity, but only instability, he said.

Speaking of the talks with his Chinese counterpart Wang Yi in Beijing, Cassis said they discussed necessary collaboration with all countries to maintain an efficient multilateral system.

The two sides also talked about working together to establish a rule-based international order to ensure peace and stability, he said.

As a small market, Switzerland is open to export and cannot survive with protectionism, he said, adding that trade and openness to market are what give it prosperity.

This year marks the 75th anniversary of Sino-Swiss diplomatic relations. Since 2016, the China-Switzerland Innovative Strategic Partnership has fostered over 30 dialogues covering trade, finance, labor, intellectual property and security.

Switzerland is willing to promote further bilateral strategic cooperation and intensify exchanges in areas like scientific research and intellectual property, he said.