China tells US no winners in trade war, global stocks surge but uncertainty remains

China is not interested in a fight but will not fear if the United States continues its tariff threats, the Chinese foreign ministry said about US tariffs Today (10 April).

"The US cause doesn't win the support of the people and will end in failure," ministry spokesperson Lin Jian said.

China will not sit back and let the legitimate rights and interests of the Chinese people be deprived, Lin said.

China's commerce ministry said there are no winners in a trade war.

Pressure, threats and blackmail are not the right way to deal with China, commerce ministry spokesperson He Yongqian said when asked about whether the world's two largest economies have started tariff negotiations.

China will "follow through to the end" if the US insists on its own way, he said.

China is open to dialogue with the US but this must be on the basis of mutual respect and equality, he said.

FIGHT TO THE END

China has repeatedly vowed to "fight to the end" in the escalating trade war between the world's top two economies.

"We are not afraid of provocations. We don't back down," China's foreign ministry spokesperson Mao Ning posted on X on Thursday, sharing a video of a defiant speech by late Chinese leader Mao Zedong from 1953 during its war with the United States on the Korean peninsula.

The Korean War ended in a stalemate later that year.

Trump said a resolution with China on trade is also possible.

But officials have said they will prioritise talks with other countries, with Vietnam, Japan and South Korea among those lining up to try and strike a bargain.

"China wants to make a deal," Trump said. "They just don't know how quite to go about it."

Beijing said it had held talks with the EU and Malaysia on strengthening trade in response to the tensions, although Australia said it had rebuffed an offer from China, its top trading partner, to work together to counter the tariffs.