Tariff abuse serves no one’s interests: spokeswoman

There is no winner in a tariff or trade war and any tariff abuse serves no one's interests, Chinese Foreign Ministry Spokeswoman Mao Ning said on Thursday.

Mao made the statement at a press conference in Beijing in response to a media query after U.S. President Donald Trump said on Wednesday that 50-percent tariff would be imposed on all copper imports starting Aug 1, on the grounds of "national security".

"China's position on this issue is very clear. We have consistently opposed any overstretching of the concept of national security. We have also always believed that there are no winners in tariff wars and trade wars. The abuse of tariffs serves no one's interests," said the spokeswoman.

Tariff abuse serves no one’s interests: spokeswoman

Tariff abuse serves no one’s interests: spokeswoman

Tariff abuse serves no one’s interests: spokeswoman

Tariff abuse serves no one’s interests: spokeswoman

The U.S. share of global GDP under President Donald Trump has fallen to its lowest level since 1980, Russian news agency RIA Novosti reported on Saturday.

RIA Novosti said data from the World Bank and the International Monetary Fund show that U.S. purchasing power parity sank to 14.65 percent last year.

That's compared to an average of 14.93 percent during former President Joe Biden's four years in office.

U.S. share of global economy hits lowest point since 1980: Russian media