DAVOS, Switzerland, Jan 21, 2025 (BSS/AFP) - A top Chinese official warned 
Tuesday that no country would emerge victorious from a trade war, in a speech 
to the Davos forum as Donald Trump returned to the White House.

Vice Premier Ding Xuexiang told the World Economic Forum that a "tug of war" 
was underway between supporters and opponents of economic globalisation.

"Transformation not seen in a century is accelerating across the board with 
imminent tariff wars and trade wars," Ding said.

"The global governance system is undergoing profound adjustments. Human 
society has once again come to a critical crossroads," he added.

Trump, who began his second term on Monday, vowed during his election 
campaign to impose higher tariffs on China after launching a trade war with 
the country during his first stint at the White House.

"Protectionism leads nowhere, and there are no winners in a trade war," Ding 
said, without mentioning Trump or the United States by name.

Trump warned Monday that he could impose tariffs if Beijing rejected his 
proposal to keep Chinese-owned app TikTok online in the United States by 
having half of it sold off.

China has also been locked in trade disputes with the European Union.

The EU imposed hefty tariffs on electric cars made in China last year. In 
turn, Beijing targeted European brandies and opened probes into EU subsidies 
of some dairy and pork products.

Without mentioning the EU or any country by name, Ding warned against 
"erecting green barriers that could disrupt normal economic and trade 
cooperation".

He called for a "consistent approach" in addressing climate change and trade 
policies "so as to prevent economic and trade frictions from impeding the 
process of green transition".