China-EU trade war a 'lose-lose' situation, top diplomat Wang Yi warns

China’s top diplomat has warned that a trade war between China and the European Union would result in a “lose-lose” situation and urged Beijing and Brussels to continue talks and strengthen their cooperation.

Foreign Minister Wang Yi made the comments on Saturday while meeting Emmanuel Bonne, diplomatic adviser to French President Emmanuel Macron, at the 26th China-France Strategic Dialogue in Beijing, according to the Chinese foreign ministry.

“A trade war will only lead to a ‘lose-lose’ situation,” Wang said. “China is the staunchest defender of the free trade system and opposes the politicisation of economic and trade issues.”

Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.

China and the EU remain locked in a feud over trade. Earlier this year, the 27-member bloc slapped tariffs on Chinese electric vehicles, which Brussels says have unfairly benefited from state subsidies. In return, Beijing has launched investigations into European pork and dairy imports.

Wang urged Brussels to adopt a constructive attitude and find mutually acceptable solutions through dialogues.

He said exchanges between the people of France and China had grown closer and the two countries had voiced their opinions on global challenges, including artificial intelligence, ocean governance and the Middle East.

Wang said he hoped China and France could pursue a positive agenda next year, promote cooperation and explore opportunities in fields such as nuclear energy and aerospace, artificial intelligence, new materials, high-end equipment, environmental protection and healthcare technology.

He expressed hope for more exchanges related to youth, culture, scientific research and education.

Wang also called on China and France to work together to uphold multilateralism.

“China and France should firmly support an international system centred on the United Nations, build an equal and orderly multipolar world, promote international unity and cooperation, oppose division and confrontation, and especially abandon the Cold War mentality and zero-sum games,” he said.

Both sides said they would strengthen cooperation on climate change, biodiversity, sustainable development and poverty reduction. They also exchanged views on the Ukraine crisis, the Iranian nuclear issue, and the situation in the Middle East.

French President Emmanuel Macron shares a drink with Chinese President Xi Jinping in the Pyrenees. Photo: AP alt=French President Emmanuel Macron shares a drink with Chinese President Xi Jinping in the Pyrenees. Photo: AP>

Bonne’s China visit is expected to lay the groundwork for a potential China trip by Macron in the new year.

The Chinese statement quoted Bonne as saying that France did not support trade wars and supported “mutually beneficial cooperation between Europe and China”.

The French envoy said his country valued friendship and trust in its ties with China. He added that France would adhere to the one-China policy and maintain close high-level exchanges with China.

He said France hoped to work with China to expand cooperation in trade, investment, artificial intelligence, nuclear energy, aerospace, agricultural food products and green development.

China and France held their first strategic dialogue in 2001. High-level talks between senior diplomats are typically held at least once a year under the strategic dialogue mechanism.

This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP’s Facebook and Twitter pages. Copyright © 2024 South China Morning Post Publishers Ltd. All rights reserved.

Copyright (c) 2024. South China Morning Post Publishers Ltd. All rights reserved.