Trade War Could Trigger Global Recession, China and Europe Warn
- Both sides ‘firmly oppose’ unilateralism, Xi aide Liu He says
- U.S. to release plan on restricting China investment in tech
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China and the European Union vowed to oppose trade protectionism in an apparent rebuke to the U.S., saying unilateral actions risked pushing the world into a recession.
Vice Premier Liu He -- President Xi Jinping’s top economic adviser -- said China and the EU had agreed to defend the multilateral trading system, following talks Monday in Beijing. The comments, made at a press briefing with European Commission Vice President Jyrki Katainen, come as both sides prepare to face off against President Donald Trump’s tariff threats.