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There are no winners in trade war, says Chinese president

  • On May 13, 2025, in Beijing, Chinese President Xi Jinping inaugurated the fourth ministerial session of the China-CELAC Forum, highlighting the importance of strengthening collaboration with countries from Latin America and the Caribbean.
  • In response to increasing protectionism and geopolitical challenges, Xi unveiled five China-supported initiatives aimed at enhancing mutual trust, fostering growth, promoting cultural exchange, ensuring stability, and deepening interpersonal relations between China and Latin American and Caribbean countries.
  • Xi highlighted China-LAC trade exceeding $500 billion in 2024, over 200 Belt and Road infrastructure projects creating one million jobs, and committed a $9.2 billion credit line to support development in the region.
  • He emphasized that no party benefits from tariff conflicts or trade disputes, advocated for the protection of genuine multilateralism, and announced visa waivers for five Latin American and Caribbean nations along with the provision of 3,500 scholarships and 10,000 training opportunities.
  • The event emphasized China’s commitment to supporting the sovereignty of LAC countries, enhancing high-quality cooperation, and building a future-oriented partnership between China and the Latin American and Caribbean region based on mutual respect and joint development.
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China Daily broke the news in China on Tuesday, May 13, 2025.
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