China says there will be 'no winner' in global trade war

Xi Jinping,Cyril Ramaphosa,China

Xi Jinping,Cyril Ramaphosa,China

Chinese President Xi Jinping has pledged to invest almost 15 billion dollars on his state visit ahead of the BRICS summit today.

Trade wars should be rejected because there will be "no winner" from such actions, Chinese President Xi Jinping said.

For his part, Ramaphosa extended warm welcome to Xi, saying that he was glad to celebrate with the Chinese president the 20th anniversary of diplomatic ties. South Africa's biggest city of Johannesburg is set to welcome the heads of Brazil, Russia, India, and China.

The meeting of presidents from the trade bloc is the first since Trump's administration launched a push to rebalance trade multilateralism that Trump has deemed unfair - relationships that the United States once championed.

President Cyril Ramaphosa criticised countries that act unilaterally in trade deals and discount World Trade Organisation rules in his opening address at the Brics Business Forum in Sandton on Wednesday afternoon.

U.S. President Donald Trump earlier on Wednesday accused China of "vicious" tactics on trade, tweeting that China was specifically targeting U.S. farmers with retaliatory tariffs because "they know I love & respect" them.

Max Verstappen keeps Red Bull on top in Germany
"Both Ferrari and Red Bull were very quick today and I think it will be very similar tomorrow and on Sunday". Max Verstappen was third on the timesheets, a further 0.189s behind his teammate Ricciardo.

"We should be resolute in rejecting unilateralism", Xi said at the opening ceremony. "China will continue to develop itself with its door wide open".

Xi said China would take "active measures" to expand imports from Africa's most industrialised economy.

Trump has already slapped levies on goods from China worth tens of billions of dollars as well as tariffs on steel and aluminium from the EU, Canada and Mexico.

"We are facing a choice between cooperation and confrontation", he said.

South Africa's trade and industry minister Rob Davies said other investments planned by China included an expansion of electronics firm Hisense's local operations and a metallurgical complex in Limpopo province.

They were speaking at a three-day meeting of BRICS leaders in Johannesburg, South Africa. He said 7,000 South Africans work in jobs affected by the metals tariffs and attempts to get an exemption from the U.S. government had been unsuccessful.

Recommended News

  • Rescue work under way in villages flooded by Laos dam breach

    Reports on one media site said millions of tonnes of water had inundated surrounding land, washing away villages and homes. She said numerous victims had already been pushed from their communities and suffered economic harm from the dam project.
    Trump administration to announce financial assistance to farmers in wake of tariffs

    Trump administration to announce financial assistance to farmers in wake of tariffs

    USDA officials told reporters they were still working to set up the programs, which they expect to be ready by early September. The announcement came hours after Trump took to Twitter TWTR to proclaim: " Tariffs are the greatest! ".
    Elton John and Prince Harry launch bid to 'smash' AIDS stigma

    Elton John and Prince Harry launch bid to 'smash' AIDS stigma

    At the event, Prince Harry follows in his mother's footprints, as Princess Diana is hailed at changing attitudes about the virus. Harry's charity Sentebale focuses on supporting HIV positive young people in the African nations of Lesotho and Botswana.
  • Karlie Kloss confirms engagement to 'soulmate' Joshua Kushner

    Karlie Kloss confirms engagement to 'soulmate' Joshua Kushner

    The Times said Kloss and Swift "continue to be good friends, and they talk frequently". Karlie Kloss is set to become the latest supermodel to say "I do" .
    Hundreds missing after dam collapses in Laos

    Hundreds missing after dam collapses in Laos

    Scenes of flooding following a burst dam in southern Laos that is believe to have claimed the lives of as many as 100 people. Boats are said to have been brought in to help evacuate people as water levels continue to rise, according to ABC Laos news.
    Nxivm: Seagram liquor heiress arrested in alleged sex cult case

    Nxivm: Seagram liquor heiress arrested in alleged sex cult case

    Bronfman, who appeared in court wearing flip-flops and a T-shirt, didn't comment as she left a federal courthouse in Brooklyn. Bronfman and the other people arrested on Tuesday were not charged with sex trafficking .
  • Adored teen girl identified as victim in Toronto mass shooting

    Adored teen girl identified as victim in Toronto mass shooting

    Two people including a young woman have been killed and 12 more injured after a man opened fire in a Toronto neighbourhood. There has been no explanation for the knife attack, and the police are still seeking a motive for Hussain's rampage.
    Ivanka Trump Is Closing Her Fashion Brand

    Ivanka Trump Is Closing Her Fashion Brand

    It only got worse when she didn't immediately resign her position with the company after accepting a position in the White House . A spokesperson for the Ivanka Trump brand said the decision to close the company is not related to the brand's performance.
    SIU identify the Danforth mass shooting suspect

    SIU identify the Danforth mass shooting suspect

    Neighbourhood residents visiting the scene of the shooting said they're struggling to process the deadly incident. Witnesses described to local media hearing about 20 shots and the sound of a weapon being reloaded several times.
  • Woman killed in Los Angeles grocery store stand-off was shot by police

    Woman killed in Los Angeles grocery store stand-off was shot by police

    Egland ran to call 911 but Atkins allegedly forced his wounded girlfriend into his grandmother's auto and drove away. Several friends of Corado have questioned why officers chose to open fire outside the crowded supermarket.
    Israel shoots down Syrian fighter near Golan Heights

    Israel shoots down Syrian fighter near Golan Heights

    The U.N. deployed a peacekeeping force between the two sides in 1974. "We do not have any information so far about the pilots". Israel says it has shot down a Syrian warplane which entered its airspace - a rare incident between the two foes.
    Leroy Sane: Manchester City forward tips Chelsea for title challenge

    Leroy Sane: Manchester City forward tips Chelsea for title challenge

    It's true, we had a €100m bid from the Premier League for Koulibaly, but we're not negotiating his sale. I am really happy, knowing that I can get better. "The squad is what makes the team better".

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.