China's Vice Premier Liu: No country can win a trade war

Reuters reports the recent comments delivered by China’s Vice Premier Liu He on protectionism at an economic conference held in Hamburg on Tuesday.

Key Quotes:

“We believe that protectionist and unilateral approaches do not offer solutions to problems on trade. On the contrary, they will only bring about more economic uncertainty to the world.”

“The history of economic development has proven time and again that raising tariffs will only lead to economic recession and no one ever emerged as a winner from a trade war. Our approach, therefore, is to seek a negotiated solution to the problems we have on the basis of equality and mutual respect.”

Note that the US President Trump is scheduled to hold trade talks with Chinese President Xi Jinping on the sidelines a G20 summit in Buenos Aires this week.