Trade war has no winners, China’s vice premier warns, as Trump threatens tariffs

BEIJING — Chinese Vice Premier Ding Xuexiang warned there are “no winners” in a trade war, as the world’s second-largest economy faces the possibility of tariffs under the freshly-inaugurated administration of Donald Trump.

Ding made his comments during a Tuesday speech at the World Economic Forum in Davos, Switzerland, according to an official English translation.

Ding, who said he was attending Davos for the second time, is one of China’s four vice premiers. China economy has struggled with lackluster consumption and a real estate slump. Despite this, the country’s GDP officially grew by 5% last year after a flurry of stimulus announcements starting in late September.

This breaking news story is being updated.