China Takes Aim at US Tariffs at Davos, Vice Premier Defends WTO, Slams Unilateral Trade Moves

Join this channel to get access to perks:
https://www.youtube.com/channel/UCpLEtz3H0jSfEneSdf1YKnw/join

China’s Vice Premier He Lifeng delivered a strong message at the World Economic Forum in Davos, criticising unilateral trade actions and warning against tariffs that undermine the World Trade Organization. Without naming Washington directly, He Lifeng defended multilateralism, WTO rules, and win-win cooperation, pushing back against trade wars associated with former U.S. President Donald Trump’s policies. The speech comes amid renewed global trade tensions and debates over protectionism, supply chains, and economic security.

#China #Davos #WEF2026 #TradeWar #WTO #USTariffs #GlobalTrade #HeLifeng

China Davos speech, He Lifeng Davos, China US trade tensions, WTO criticism, US tariffs China, Trump trade policy, trade war news, China WTO speech, World Economic Forum China, Davos 2026 China, global trade crisis, multilateral trade system, WTO rules, China economy Davos, US China relations, trade protectionism, global economy news, tariffs impact, trade diplomacy, IMF WTO reform

Transcript

00:00retreat to self-imposed isolation. The right approach should be and can only be

00:07to find solutions together through dialogue and steer economic

00:13globalization in the correct direction. China advocates a universally beneficial

00:19and inclusive economic globalization. We are committed to building bridges not

00:25walls. We will firmly support trade and investment liberalization and

00:30facilitation and continue to share development opportunities with the

00:34world. We will work with all parties to create a bright future of prosperity and

00:40development where every country and every community shares the dividends of

00:44development. Second, we should firmly safeguard multilateralism and make the

00:49international economic and trade order more just and equitable. The multilateral

00:54trading system now faces the most serious challenges in years. The

00:59unilateral acts and trade deals of certain countries clearly violate the

01:04fundamental principles and rules of the WTO and severely impact the global economic

01:09and trade order. As President Xi Jinping noted, at difficult times we must uphold

01:16our original commitment to peaceful coexistence and strengthen our confidence

01:21in win-win cooperation. Multilateralism is the right way to keep the

01:25international order stable and promote humanity's development and progress. The

01:30rules must apply equally to everyone. A handful of countries should not enjoy

01:36privileges based on their strengths and the world must not return to the law of the

01:42jungle where the strong bully the weak. Every country is entitled to defend its

01:48legitimate rights and interests. Since joining the WTO, China has strictly

01:53followed the organization's rules, earnestly fulfilled its commitments, and taken

01:58voluntary steps to contribute more. Last year, it solemnly announced that it will not

02:04seek new, special, and differential treatment in current and future negotiations at the WTO. China will

02:12continue to firmly uphold the WTO-centered, rules-based multilateral trading system and firmly support the

02:18reforms of multilateral institutions, including the WTO and the IMF, with a view to enhancing the

02:25authority, effectiveness, and inclusiveness of the multilateral trading system and increasing the

02:32representation of the global south and developing countries. China is glad to see countries reaching

02:39trade agreements that are mutually beneficial, but these agreements should comply with WTO rules and not

02:45undermine the interests of third parties. Third, we should pursue win-win cooperation, work together to

02:53make the pie bigger, and jointly resolve development issues. Currently, world economic growth is lacking

03:01momentum. The IMF forecasts global growth of 3.1 percent for 2026, which is below the pre-COVID

03:12average of 3.7 percent. What is more worrying is that unfairness continues to grow and sustainable

03:21development is facing severe challenges. According to a UN report, two-thirds of the sustainable development

03:32goals will not be met by 2030. The pursuit of development should not be a you-lose-I-win zero-sum game. Rather, every

03:43party should play its part and get its fair share. Making the pie bigger together is more important than

03:50fighting for the pie, and solving problems together is more effective than blaming each other.

03:57China is committed to foster common prosperity with its trading partners through its own development

04:08and making the pie bigger for global economy and trade. We never seek trade surplus. On top of being

04:14the world's factory, we hope to be the world's market too. However, in many cases, when China wants to buy,

04:23others don't want to sell. Trade issues often become security hurdles. On the other hand,

04:34services now account for two-thirds of global GDP. China has recorded a large deficit in its services

04:43trade over the long term, but it never feels being taken advantage of. We will give full play to our

04:52super-sized market. Step up our efforts to expand import and strengthen industrial cooperation so that

04:59countries can better share in China's opportunities. Fourth, we should uphold mutual respect and equal-footed

05:07consultation and manage differences and solve problems through dialogue. Last year,

05:15economic and trade relations between China and the United States went through some ups and downs.

05:25Guided by the common understandings of the two presidents, from their meeting in Busan and four phone

05:29calls, Chinese and U.S. teams had five rounds of consultation and economic trade issues. Following the

05:37principles of mutual respect, peaceful coexistence and win-win cooperation, they properly handled some

05:42outstanding issues and kept the economic and trade relationship generally stable. Facts have demonstrated

05:50once again that China and the United States will gain from cooperation and lose from confrontation,

05:57and that they should and can help each other succeed and prosper together. The trade talks

06:06also showed that as long as the two sides engage in equal food consultation

06:13and work in the same direction, there will always be more solutions than problems.

06:20to be frank, it's normal for countries with different social systems, stages of development, histories and cultures

06:31to encounter divergences and frictions as they develop and interact. But sometimes these are merely

06:38misunderstandings. The key is to uphold the spirit of equality, respect and mutual benefit,

06:44to build trust through dialogue, and to resolve disputes through consultation. Instead of looking

06:53for answers from confrontation or antagonism, we must find a way out through communication and

06:58consultation and explore the path of win-win and all-win. China is a trading partner, not a rival for other

07:05countries. And China's development presents an opportunity, not a threat to the world's economy.

07:11When it comes to differences and misunderstandings in international economic and trade cooperation,

07:18China calls for equal consultation to enhance mutual trust, bridge differences, and solve problems.

07:24Ladies and gentlemen, friends, over the past five years, the Chinese economy has made steady progress.

07:31We have deepened reform and opening up, continued to expand the consumer market,

07:37made solid headway in developing new quality productive forces, and accelerated the green and

07:42low-carbon transition. With an average annual growth rate of around 5.4 percent, China's economy has

07:49expanded to 140 trillion RMB, contributing approximately 30 percent to global economic growth.

07:58Over the past five years, China has imported over 15 trillion US dollars worth of goods and services.

08:07Its overseas investment has generated over 300 billion US dollars of tax revenue, created numerous

08:13jobs, and boosted local economic growth. The Chinese economy is on solid foundations, demonstrating

08:20advantages in many areas, strong resilience, and great potential. China's development has been achieved,

08:26mainly through reform, opening up, and innovation, rather than so-called government subsidies.

08:35Admittedly, we do face some old and new problems and challenges, but they are predominantly the

08:41growing pains of our development and transition, and we are working hard on them, and we are fully

08:46confident and capable of tackling all kinds of risks and challenges.

08:50Last October, the 20th Central Committee of the Communist Party of China held its fourth

08:56plenary session and adopted the recommendations for the 15th Five-Year Plan, laying out the top-level

09:02design and strategic blueprint for China's economic and social development in the next five years.

09:08China will further apply the new development philosophy of innovative, coordinated, green, open,

09:14and shared development before by President Xi Jinping. Work faster to foster a new development paradigm,

09:20with domestic circulation as the mainstay, and domestic and international circulations reinforcing

09:25each other. Fully tap into the potential of our supersized market with 1.4 billion people,

09:33and strive for new progress in high-quality development. We will improve our market rules and

09:38institutional safeguards and provide more opportunities for all other countries. China will actively expand

09:46domestic demand and share with the world the opportunities in its fast market, but its per capita consumer

09:54spending is still below that of developed economies. As China's middle-income group continues to grow,

10:02there will be more and more diverse needs for higher quality of life, which means immense potential for

10:09consumption. China has put domestic demand on top of its economic agenda this year, and is working

10:18faster on an income growth plan for both urban and rural residents to vigorously boost consumption and make

10:25itself a consumption powerhouse on top of a manufacturing powerhouse. China will continuously promote

10:33investment in both physical assets and in human capital, actively expand investment and consumption

10:40in such areas as education, medical services, and elderly care, and create more space for consumption.

10:48We will continue to host events such as the China International Import Expo, further expand

10:54import, and encourage more quality products across the globe to enter the Chinese market. We encourage

11:01businesses from around the world to seize the opportunities presented by our expanding domestic demand,

11:07provide more and better products and services, and further explore China's consumer market so as to gain a

11:13head start in the fierce international competition. China will steadfastly expand opening up and share with the

11:20world the opportunities from its high standard opening up. Reform and opening up is China's fundamental state policy.

11:26China will open its door still wider to the world. China will actively expand voluntary opening up, align with high

11:34standard international economic and trade rules, expand market access, and open more areas, particularly in the service sector, and step up our

11:44efforts to attract and utilize foreign investment. China will continue to foster a market-oriented,

11:50law-based, and world-class business environment, provide equal treatment for both domestic and foreign

11:58investment enterprises, and make the demand list of businesses a service list of the government.

12:04Should foreign enterprises encounter any problems in China, please do not hesitate to inform us and we will

12:11actively address them. China is committed to deepening international industrial specialization and

12:16collaboration, keeping global industrial and supply chains secure and stable, and building a global market of

12:23shared benefits. We welcome foreign enterprises to invest in China and share in China's opportunities. We also hope

12:31governments of other countries can provide a fair, non-discriminatory, transparent, and predictable investment

12:38environment for Chinese enterprises. China will accelerate sci-tech innovation and share with the world the

12:44opportunities from its innovation-driven development. The latest round of technological revolution and

12:50industrial transformation is unfolding at a faster pace, creating new historical opportunities. Innovation is an

12:57essential engine for China's high-quality economic development, and Chinese modernization must be

13:02underpinned by modernization in science and technology. Currently, China has the biggest number of

13:08researchers and international patent applications. There are diverse scenarios for application and a sound

13:15environment for innovation. And now AI is empowering various sectors. China will continue to promote full

13:24integration between technological and industrial innovation, strengthen the protection and application of

13:30international property rights, and stimulate the vitality of all innovators. Scientific and technological

13:37progress cannot be achieved without international cooperation, and innovation brings both opportunities

13:42and risks. China is ready to work with all other countries in the spirit of openness and cooperation

13:48to advance sci-tech innovation, empower the world economy, and address global challenges in such areas as AI

13:56governance. China's innovation-driven development not only serves itself but also benefits the world. We welcome

14:02companies from around the world to deepen cooperation with China on innovation and sharing the opportunities

14:08presented by innovation-driven development. China will pursue green development and share with the world the

14:14opportunities from green and low carbon transition. At the UN climate summit last September, President Xi Jinping

14:22solemnly announced China's 2035 nationally determined contributions. This is the first time that China put

14:29forward an absolute emissions reduction target, which is a testament to China's firm resolve and maximum effort. China has

14:37put in place the world's largest renewable energy system and the most complete new energy industrial chain.

14:43We will control both the total amount and intensity of carbon emissions across the board and strive to achieve

14:50carbon peaking before 2030 and carbon neutrality before 2060. China will work with all other parties to fully and

15:02effectively implement the UNFCCC and its Paris Agreement, uphold the multilateral process on climate change, and actively

15:11promote global global green and low carbon development. China will work with all parties to foster closer

15:17partnerships for green development, address the shortfall in green production capacity, and ensure the free flow of

15:25quality green products globally. We invite enterprises from all over the world to embrace the opportunities from

15:31green and low carbon transition, work closely with China in such areas as green infrastructure, green energy, green minerals, and green finance,

15:39and jointly create a green and prosperous future. Ladies and gentlemen, friends,

15:46the wisdom of Davos lies in dialogue, and the future of the world hinges on cooperation.

15:52As President Xi Jinping noted, for us to break through the mist and embrace a bright future, the biggest strength

15:59comes from cooperation, and the most effective way is through solidarity. Let us uphold the vision of a

16:06community with a shared future for humanity, carry forward a spirit of dialogue, enhance openness and

16:12cooperation, and steer the giant ship of the world economy steadily forward on the vast blue ocean, breaking all

16:18winds and waves. Let's build a better future for all. I wish this annual meeting a full success. Thank you.

China Takes Aim at US Tariffs at Davos, Vice Premier Defends WTO, Slams Unilateral Trade Moves | APT

Category

Transcript

Comments

Recommended