Xi Woos Business Leaders as Trump Escalates Trade War

Chinese President Xi Jinping urged global business leaders to push back against protectionism, seeking to capitalize on the growing backlash against rising U.S. tariffs to promote China as a reliable economic partner, Bloomberg News reported.

Xi's remarks came a day after Trump escalated his trade war, prompting threats of retaliation from the EU and other allies. I Photo: President of Russia

Xi made a veiled critique of Donald Trump’s trade actions, touting China’s stability at a meeting in Beijing with about 40 corporate leaders, including Stephen A. Schwarzman of Blackstone Inc., Judy Marks of Otis Worldwide Corp., and Jay Y. Lee of Samsung Electronics Co. 

His remarks came a day after Trump escalated his trade war, prompting threats of retaliation from the EU and other allies.

“Some countries are building a small yard with high fences, erecting tariff barriers, and politicizing business issues—using them as tools and weapons,” Xi said at the Great Hall of the People.

“I hope you will share your sensible views and take actions to push back against retrogressive rules and zero-sum games,” he added.

Xi’s comments are part of a broader effort to attract investors, as slowing economic growth and mounting geopolitical tensions dampen China’s appeal. Foreign direct investment into China fell last year to its lowest level in over three decades.

He promised to improve market access and address business challenges.

“We are providing a transparent, steady, and predictable policy environment,” Xi said, calling China a “favorite destination” for foreign investors. “Embracing China is embracing opportunities.”