BEIJING — The U.N. secretary-general and the Singaporean foreign minister voiced concerns about global trade tensions and rising protectionism during back-to-back meetings in Beijing on Sunday.<\/p>\n
Following remarks from his Chinese counterpart, Singaporean Foreign Minister Vivian Balakrishnan vowed to “double-down” on free trade and economic liberalization in tandem with China.<\/p>\n
“This is a time in the world where the temptation to embark on unilateralism and protectionism is unfortunately rising,” Balakrishnan said.<\/p>\n
In a separate meeting, Secretary-General Antonio Guterres called China “absolutely crucial” in the international system.<\/p>\n
“You mentioned reform and opening up – it’s so important in a moment when some others have a policy of closing up,” Guterres told Chinese Foreign Minister Wang Yi.<\/p>\n
“The solutions for these problems are not to put globalization to question, but to improve globalization. Not isolation or protectionism, but more international co-operation,” Guterres said.<\/p>\n
The comments came as China and the U.S. exchanged escalating tariff threats in what is already shaping up to be the biggest trade battle for more than a half century.<\/p>\n
Beijing vowed Friday to “counterattack with great strength” if President Donald Trump follows through on threats to impose tariffs on an additional $100 billion in Chinese goods.<\/p>\n
Trump’s announcement followed China’s decision to tax $50 billion in American products, including soybeans and small aircraft, in response to a U.S. move this week to impose tariffs on $50 billion in Chinese goods.<\/p>\n
The U.S. bought more than $500 billion in goods from China last year and now is planning or considering penalties on some $150 billion of those imports. The U.S. sold about $130 billion in goods to China in 2017 and faces a potentially devastating hit to its market there if China responds in kind.<\/p>\n
In the meetings, Wang attacked what he called “protectionism and unilateralism,” though he didn’t single out the U.S. by name.<\/p>\n
“China will safeguard the principles of free trade and oppose protectionism,” Wang said. “We should push forward with economic globalization.”<\/p>\n
Wang was welcoming both officials ahead of their planned appearances at the annual Boao Forum for Asia, a Chinese-sponsored annual gathering for political and economic elites on tropical Hainan Island.<\/p>\n
Guterres will meet President Xi Jinping later Sunday and also plans to visit the China Peacekeeping Police Training Center.<\/p>\n
Balakrishnan is travelling with Singaporean Prime Minister Lee Hsien Loong on the first of a five-day visit to China.<\/p>\n","protected":false},"excerpt":{"rendered":"
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