China says U.S. unilateralism, protectionism will hurt global economy

  • There was no winner in a trade war and that cooperation was the only correct choice, China Commerce Minister Zhong Shan told representatives of six multinational companies on Monday.
  • China will accelerate its opening up and create a better business environment for companies, Zhong was quoted as saying.

U.S. President Donald Trump holds his fist up during a Hispanic Heritage Month Celebration at the White House.
Alex Wong | Getty Images News | Getty Images
U.S. President Donald Trump holds his fist up during a Hispanic Heritage Month Celebration at the White House.

China's commerce minister told representatives of foreign firms on Monday that the United States' unilateralism and protectionism will impact both U.S. and China's interests and hurt the global economy.

China Commerce Minister Zhong Shan told six multinational companies there was no winner in a trade war and that cooperation was the only correct choice, according to a statement posted on the commerce ministry's website on Tuesday.

China will accelerate its opening up and create a better business environment for companies, Zhong was quoted as saying.

Representatives of foreign firms that met with the commerce minister, which included Samsung Electronics, Toyota Motor, HSBC Holdings and the Cohen Group, said they will continue to expand investment and cooperation in China, the commerce ministry said.