Xu Feihong, while addressing a gathering in Delhi, expressed Beijing's strong opposition to the hefty US tariffs imposed on India, referring to the situation as a case of the US using tariffs as leverage in international negotiations. "The US has long enjoyed the advantages of free trade, but now seeks to impose exorbitant costs on other nations," Xu stated. He highlighted the recent 25% tariffs imposed by the Trump administration on India, including additional tariffs on oil and weapons imports from Russia, which will take effect later this month.
Since the onset of the Ukraine conflict, India's significant imports of Russian crude oil have created tension with the United States, complicating ongoing trade negotiations. Indian officials defend their oil purchases, citing the necessity of affordable energy for their population while reflecting on the Biden administration's earlier suggestions for purchasing Russian oil to stabilize the global market.
In the context of deteriorating US-India relations, Xu's comments suggest a warming trend between India and China, a relationship that had suffered following the 2020 military clashes in Ladakh. Recent dialogue, including Chinese Foreign Minister Wang Yi's visit to Delhi, has focused on shifting perceptions to see each other as partners rather than rivals.
During his speech, Xu highlighted the potential of India and China as the economic powerhouses of Asia and discussed the advantages of their collaboration for global development. He emphasized the need for India to offer a non-discriminatory business environment for Chinese investors, aiming to foster mutual benefits for both nations.
Xu concluded by denouncing tariff and trade wars as detrimental to global economic stability and emphasized China's commitment to cooperating with India to sustain the multilateral trading system under the World Trade Organization (WTO). He expressed optimism that Prime Minister Modi’s forthcoming visit to China for the Shanghai Cooperation Organisation summit could revitalize their bilateral relations.
Since the onset of the Ukraine conflict, India's significant imports of Russian crude oil have created tension with the United States, complicating ongoing trade negotiations. Indian officials defend their oil purchases, citing the necessity of affordable energy for their population while reflecting on the Biden administration's earlier suggestions for purchasing Russian oil to stabilize the global market.
In the context of deteriorating US-India relations, Xu's comments suggest a warming trend between India and China, a relationship that had suffered following the 2020 military clashes in Ladakh. Recent dialogue, including Chinese Foreign Minister Wang Yi's visit to Delhi, has focused on shifting perceptions to see each other as partners rather than rivals.
During his speech, Xu highlighted the potential of India and China as the economic powerhouses of Asia and discussed the advantages of their collaboration for global development. He emphasized the need for India to offer a non-discriminatory business environment for Chinese investors, aiming to foster mutual benefits for both nations.
Xu concluded by denouncing tariff and trade wars as detrimental to global economic stability and emphasized China's commitment to cooperating with India to sustain the multilateral trading system under the World Trade Organization (WTO). He expressed optimism that Prime Minister Modi’s forthcoming visit to China for the Shanghai Cooperation Organisation summit could revitalize their bilateral relations.
