Trade war has no winners, China’s vice premier warns, as Trump threatens tariffs

BEIJING – Chinese Vice Premier Ding Xuexiang warned there are “no winners” in a trade war, as the world’s second-largest economy faces the possibility of tariffs under the newly inaugurated Donald Trump administration.

Ding made the comments during a speech Tuesday at the World Economic Forum in Davos, Switzerland, according to an official English translation.

Ding, who said he would attend Davos for the second time, is one of China’s four vice premiers. Porcelain the economy has had problems with mediocre consumption and a real estate collapse. Despite this, the country GDP officially grew by 5% last year after a flurry of stimulus announcements starting in late September.

This breaking news is being updated.