Vice Premier Ding Xuexiang warned on Tuesday that no country would emerge victorious from a trade war, in a speech to the World Economic Forum in

DAVOS: A top Chinese official warned Tuesday that no country would emerge victorious from a trade war, in a speech to the Davos forum as Donald Trump returned to the White House. Vice Premier Ding Xuexiang told the World Economic Forum that a "tug of war" was underway between supporters and opponents of economic globalisation.

Chinese Vice Premier Ding Xuexiang warned of “no winners” in a trade war during a speech Tuesday during the World Economic Forum in Davos, Switzerland.

China is not seeking a trade surplus and is willing to import more competitive and high-quality products and services to balance trade, Ding Xuexiang, the country's vice premier, said on Tuesday.

EU, German and Chinese leaders took turns defending global cooperation in Davos on Tuesday as the spectre of new trade wars looms following Donald Trump's return to the White House.