financetom
Business
financetom
/
Business
/
No winners in trade, industrial wars, China's ambassador to US says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
No winners in trade, industrial wars, China's ambassador to US says
Nov 8, 2024 4:06 PM

BEIJING (Reuters) - There are no winners in tariff or trade wars, nor in wars over science and technology or industry, China's ambassador to the United States said after Donald Trump won the U.S. presidential election.

Ambassador Xie Feng encouraged U.S. companies to invest and operate in China, and said he was looking forward to strengthening dialogue and cooperation on global challenges such as climate change, artificial intelligence, in a speech at a U.S.-China Business Council dinner seen on the embassy website.

He did not directly address Trump nor the U.S. election.

"China and the United States can achieve many great and good things through cooperation, and the list of cooperation should be stretched longer and longer," he said.

Trump's return could revive issues from his first presidency, when he initiated a bruising trade war with the world's second-largest economy in 2018, though striking a truce just before the COVID-19 pandemic hit in January 2020.

The Republican has vowed to adopt blanket 60% tariffs on U.S. imports of Chinese goods compared with the 7.5% to 25% levied in his first term poses major growth risks for China.

Xie noted that fast food chain McDonald's in China has added the most new stores in the past year, accounting for about 60% of its stores worldwide, while Shanghai is the only major city globally to boast more than 1,000 Starbucks' cafes.

"The more success stories of mutually beneficial cooperation, the better," Xie said.

Xie also said differences between the two nations should be the driving force for exchanges and mutual learning, rather than "an excuse for rejection and confrontation", calling successes of each country opportunities to each other.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Enerpac Tool Fiscal Q1 Adjusted Earnings, Sales Increase; Sets Fiscal 2025 Revenue Guidance; Shares Fall After Hours
Enerpac Tool Fiscal Q1 Adjusted Earnings, Sales Increase; Sets Fiscal 2025 Revenue Guidance; Shares Fall After Hours
Dec 18, 2024
05:03 PM EST, 12/18/2024 (MT Newswires) -- Enerpac Tool ( EPAC ) reported fiscal Q1 adjusted earnings late Wednesday of $0.40 per diluted share, up from $0.39 a year earlier. Analysts polled by FactSet expected $0.40. Net sales for the quarter that ended on Nov. 30 were $145.2 million, up from $142 million a year earlier. Analysts surveyed by FactSet...
Opendoor Technologies Insider Sold Shares Worth $1,040,074, According to a Recent SEC Filing
Opendoor Technologies Insider Sold Shares Worth $1,040,074, According to a Recent SEC Filing
Dec 18, 2024
05:01 PM EST, 12/18/2024 (MT Newswires) -- Carrie Wheeler, Chief Executive Officer, on December 16, 2024, sold 552,408 shares in Opendoor Technologies ( OPEN ) for $1,040,074. Following the Form 4 filing with the SEC, Wheeler has control over a total of 14,098,112 shares of the company, with 14,098,112 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1801169/000180116924000186/xslF345X05/wk-form4_1734559139.xml ...
National Bank Holdings Sells 20% of Available-for-Sale Portfolio for $130 Million
National Bank Holdings Sells 20% of Available-for-Sale Portfolio for $130 Million
Dec 18, 2024
05:05 PM EST, 12/18/2024 (MT Newswires) -- National Bank Holdings ( NBHC ) sold $130 million of available-for-sale investment securities in the open market. The sale, covering 20% of the available-for-sale portfolio, is part of a plan to maximize the balance sheet, the company said Wednesday in a statement. The sale resulted in an after-tax loss of about $5 million...
City Office REIT Reports Lease Extension for Dallas Property
City Office REIT Reports Lease Extension for Dallas Property
Dec 18, 2024
05:05 PM EST, 12/18/2024 (MT Newswires) -- City Office REIT ( CIO ) said late Wednesday that an existing tenant at the company's Terraces property in Dallas expanded its space by 16,000 square feet to 60,000 square feet and extended the lease through 2036. The property is now 95% leased, including the expanded space, which is expected to begin in...
Copyright 2023-2026 - www.financetom.com All Rights Reserved