‘No winners’: China criticises US tariffs at World Economic Forum; promises wider opening of economy

China on Tuesday said there were no winners in trade and tariff wars and called for more cooperation and dialogue in the global economy.Speaking at the World Economic Forum annual meeting, China’s vice-premier He Lifeng said countries should work together instead of turning inward. He added that while economic globalisation had flaws, nations could completely reject it or move towards self-isolation. Lifeng further said that China would “open its door wider to the world” and the country planned to expand its market, with a focus on the services sector.He also spoke about China’s economic progress and said domestic demand had been placed at the centre of the country’s economic agenda for 2026. The aim, he said, is to boost consumption while maintaining China’s production strength.The remarks come at a time of rising global trade tensions following the trade war launched by US President Donald Trump during his second term.China earlier said its economy grew by 5 per cent last year, meeting its official target. Growth was supported by a record trade surplus, even though the economy slowed to 4.5 per cent in the final three months of 2025.Over the past year, China has faced challenges in boosting domestic spending, a prolonged property crisis, and disruption linked to US tariff policies under President Trump.Trump, who began his second term on January 20, 2025, has expanded tariffs as part of efforts to protect US industries and reduce trade deficits.In the latest move, Trump has announced 10 per cent tariffs on imports from eight European countries Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland. The tariffs, set to take effect from February 1, 2026, were linked to his demand for the “complete and total purchase of Greenland”.Trump said the tariffs would remain until a deal was reached. His remarks followed reports that some European countries had sent troops to Greenland in support of Denmark.