Chinese President Xi Jinping has warned that “trade war and tariff war will produce no winner,” while calling for stronger China–Vietnam economic cooperation and a united stand against protectionism, in a statement posted on Vietnam’s Nhan Dan news site, amid a state visit to Hanoi by the Chinese leader. Whereas the bulk of the statement was stock standard for high level talks between the two countries, there were a few timely points made on trade, including:
- He argued that “Trade war and tariff war will produce no winner, and protectionism will lead nowhere.”
- Urged Vietnam and China to “resolutely safeguard the multilateral trading system”, calling for open markets and stable global supply chains.
- And proposed that both countries coordinate their response through multilateral platforms such as East Asia cooperation and Lancang-Mekong initiatives to “inject more positive energy” into a turbulent global economy.
Xi’s comments signal a clear response to the latest US tariffs and frame China as a partner in resisting what it suggests is economic coercion. Notably, Vietnam, now facing rising duties from the US, and its not totally far fetched to think this may draw the country more into Beijing’s orbit — especially if it sees Chinese trade and investment as a buffer against U.S. trade risks.
See also: What’s Next for Vietnam if Trump’s 46 Percent Tariff is Here To Stay?