November 27, 2018 / 1:53 PM / 16 days ago

China's vice premier says no country can win a trade war

HAMBURG, Germany, Nov 27 (Reuters) - China’s Vice Premier Liu He told an economic conference in Hamburg on Tuesday that protectionist and unilateral approaches on trade would only deepen economic uncertainty, saying no country could emerge as a winner in a trade war.

“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,” Liu said.

“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,” he added. (Reporting by Noah Barkin Editing by Michelle Martin)

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