Trade war has no winners, China’s vice premier warns as Trump threatens tariffs

BEIJING — Chinese Vice Premier Ding Xuexian has warned that there are “no winners” in a trade war as the world’s second-largest economy faces the possibility of tariffs under the newly 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 coming to Davos for the second time, is one of China’s four vice premiers. China the economy struggled with lackluster consumption and falling real estate. Despite this, countries GDP officially increased by 5% last year after a flurry of stimulus announcements that began in late September.

This breaking news is being updated.