There are no winners in a trade war, warns China’s vice president as Trump threatens tariffs

BEIJING – Chinese Vice Premier Ding Xuexiang has warned there are “no winners” in the trade war, as the world’s second-largest economy faces the possibility of tariffs under the recently inaugurated Donald Trump administration.

Ding made his comments during a speech on Tuesday at the World Economic Forum in Davos, Switzerland, according to an official English translation.

Ding, who said he was in Davos for the second time, is one of China’s four vice presidents. China the economy struggled with weak consumption and falling real estate. Despite this, countries GDP officially increased by 5 percent last year after a series of stimulus announcements starting in late September.

This latest news is being updated.