Tariff war: China will defend its legitimate interests, says envoy

The Chinese Ambassador to Nigeria, Yu Dunhai, says China is determined to defend its legitimate interests in the trade war with the United States. Yu, who asserted this while addressing a press conference recently in Abuja alongside the Minister’s Counsellor in charge of Political Affairs, Zhang Yi, and his Business Affairs counterpart, Wang Yingqi, also […]

The Chinese Ambassador to Nigeria, Yu Dunhai, says China is determined to defend its legitimate interests in the trade war with the United States.

Yu, who asserted this while addressing a press conference recently in Abuja alongside the Minister’s Counsellor in charge of Political Affairs, Zhang Yi, and his Business Affairs counterpart, Wang Yingqi, also said “appeasment was not a way out.”

Speaking on the US President Donald Trump’s avowed policy of America first, Ambassador Yi said the tariff war was against the rest of the world and signalled that America was turning its back on the rest of the world.

“The world has seen that the US has lost its credibility and that it is no longer a city upon a mountain (hill); people have seen the selfishness,” he said.

He explained that 60 to 70 per cent of US imports from China were the country’s products manufactured in China due to its cheaper costs of labour and higher return on investments.

He said China was now focused on high-quality development with emphasis on technology and consumption to drive its economy going forward.

Ambassador Yu noted further, “Globally, the world has grown weary of America’s arrogance, bullying, and selfishness. Now the U.S. has discarded even the pretence of decency, openly declaring a tariff war against the world, placing its interests above the common good of the international community, and advancing its hegemonic ambitions at the cost of the legitimate interests of other nations. This will inevitably face widespread opposition.”

He further said China has unwavering support of its people domestically with a vast market of 1.4 billion consumers and a comprehensive industrial chain, adding “China’s economy grew by 5.4% in the first quarter. Over the past decade, China has contributed around 30% to global economic growth serving as a vital engine for the world economy.”

He said during President Bola Tinubu’s last visit to China, both countries elevated their cooperation to a comprehensive strategic partnership, adding that efforts were on to increase Chinese imports of Nigerian products, including oil.