HONG KONG — Chinese President Xi Jinping declared that his country is unafraid of the escalating trade war with the United States.

Speaking to Spanish Prime Minister Pedro Sánchez in Beijing on Friday, as quoted by CNN, just before China’s announcement of new tariffs on the US of up to 125%, Xi stated: “There are no winners in a trade war, and going against the tide of the world will only lead to self-isolation.”

Xi added: “For more than 70 years, China’s development has relied on self-reliance and hard work, not on help from others. We are not afraid of unjust oppression,” according to a broadcast by state media CCTV.

Previously, Xi had refrained from making public comments on the tariff dispute, but he has now taken a firm stance. “Whatever changes may occur in the external environment, China will remain confident, stay focused, and manage its own affairs well,” Xi said, as reported by CCTV.

China’s decision to raise tariffs comes in retaliation to US President Donald Trump’s move to increase tariffs on Chinese goods to 145%. However, Beijing signalled that it does not intend to raise its own tariffs beyond 125%, as further escalation would be meaningless.

“The US’s repeated excessive tariff hikes on China have become little more than a numbers game with no real economic value,” said a spokesperson from China’s Ministry of Commerce on Friday, as quoted by CNN.

“It only further demonstrates the US’s use of tariffs as a tool of coercion and intimidation. In the end, it simply makes the US a laughingstock,” the spokesperson added. (VA/MT/ZH)