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Breaking news 17/6/2025🚨:
📊The Chinese President affirmed that "there are no winners in trade wars and trade conflicts; unilateralism and protectionism only harm everyone."
📝Context of the speech:
The affirmation came shortly after the U.S. and China reached a trade truce, following a phone call between President Donald Trump and the Chinese president on June 10, 2025. The agreement sets a 55 percent tariff on Chinese imports into the U.S. and 10 percent on U.S. goods to China, and addresses restrictions on rare earth mineral exports
📝Meaning for the global economy:
• China's statement emphasizes the importance of the multilateral trading system while warning that "protectionism does not provide a solution".