China's President Xi Jinping on Tuesday US President Donald Trump's tariff imposition and said that the protectionist approach was "bound to harm others and oneself".
"Tariff wars and trade wars have no winners. Unilateralism, protectionism and hegemonism are bound to harm others and oneself," AFP quoted Xi saying, citing state media Xinhua.
He was speaking at the China-Central Asia Summit in Kazakhstan.
Meanwhile, Trump has repeatedly said that he was open to making deals and even suggested extending the July 8 deadline.
"We're rocking in terms of deals. We're dealing with quite a few countries and they all want to make a deal with us," Trump said earlier this month. "We're dealing with Japan. We're dealing with South Korea. We're dealing with a lot of them. We're dealing with about 15 countries," he added.
So far, only a single trade agreement—with the United Kingdom—has been finalized, while roughly 17 others remain under negotiation. With a 90-day freeze on Trump’s broad “reciprocal” tariffs ending on July 8, pressure is mounting on nations to seal deals before the deadline.
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Read MoreThe TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
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