Xu articulated his views while addressing an audience, asserting that the US has introduced tariffs of up to 50% on Indian imports, with further threats potentially looming. He emphasized the need for India and China to unite against excessive power politics, arguing that silence only gives strength to such aggressive actions. Heightened tensions have arisen following the tariffs imposed by the Trump administration earlier this month, including a 25% penalty on Indian goods and additional tariffs concerning oil purchases from Russia.
India, in defense of its oil imports from Russia, maintains that it is essential to secure energy resources affordably, especially amid rising costs affecting the poor. The Iranian oil market and relations with the US have been notably strained as a result.
Simultaneously, relations between China and India are showing signs of thawing after a period of tension stemming from deadly clashes in the Galwan Valley in 2020. Recently, Chinese Foreign Minister Wang Yi visited India, emphasizing the importance of treating each other as partners instead of adversaries. Their relationship is being positioned as crucial for economic stability in Asia.
At the event, Xu further highlighted the economic potential of both nations working together, terming them as the "double engines" propelling growth in Asia. He expressed a desire for Indian businesses to invest in China, appealing for a welcoming business environment in return for Chinese investments in India.
Xu criticized the current global tariff and trade wars, urging adherence to international trade rules, specifically those set by the World Trade Organisation (WTO). He remains optimistic about Prime Minister Narendra Modi's forthcoming visit to China, indicating it could serve as a turning point for strengthened China-India relations.
India, in defense of its oil imports from Russia, maintains that it is essential to secure energy resources affordably, especially amid rising costs affecting the poor. The Iranian oil market and relations with the US have been notably strained as a result.
Simultaneously, relations between China and India are showing signs of thawing after a period of tension stemming from deadly clashes in the Galwan Valley in 2020. Recently, Chinese Foreign Minister Wang Yi visited India, emphasizing the importance of treating each other as partners instead of adversaries. Their relationship is being positioned as crucial for economic stability in Asia.
At the event, Xu further highlighted the economic potential of both nations working together, terming them as the "double engines" propelling growth in Asia. He expressed a desire for Indian businesses to invest in China, appealing for a welcoming business environment in return for Chinese investments in India.
Xu criticized the current global tariff and trade wars, urging adherence to international trade rules, specifically those set by the World Trade Organisation (WTO). He remains optimistic about Prime Minister Narendra Modi's forthcoming visit to China, indicating it could serve as a turning point for strengthened China-India relations.
