BEIJING: US President Donald Trump decried his country’s “one-sided and unfair” trade deficit with Beijing on Thursday, but he told Chinese President Xi Jinping: “I don’t blame China.”
At a signing ceremony for over $250 billion (SR937.50 billion) in US-Chinese business deals in Beijing, Trump said: “After all, who can blame a country for being able to take advantage of another country for the sake of its citizens?“
However, he pointed the blame at past US administrations “for allowing this out-of-control trade deficit to take place and to grow.”
The Trump administration has aggressively pursued trade remedies in commercial relations with Beijing — investigating Chinese trade practices on intellectual property and in aluminum and steel.
Alleged Chinese misdeeds in commerce were a mainstay of Trump’s populist campaign for the White House but since taking office he has refrained from labeling Beijing a currency manipulator.
Xi has sought to cast himself as a champion of globalization as the US retreats behind Trump’s “America First” policy.
But US and European firms still complain about being barred from certain sectors and forced to share their technologies with local competitors to gain access in some industries.
Speaking after talks with his Chinese counterpart, Trump said that China has to take greater action on market access, forced technology transfers and theft of intellectual property.
“We have to fix this because it just doesn’t work, for our great American companies, and it doesn’t work for our great American workers,” he said.
Xi delivered a brief speech following Trump’s remarks, where he said China welcomed the international business community.
“To keep opening up is our long term strategy. We will not narrow or close our doors. We will open wider and wider,” Xi said.
“I will encourage Chinese businesses to do more investment in US and at the same time, invite more US companies to take part in One Belt One Road,” Xi added.
He was referring to China’s Silk Road project to revive ancient trade routes with a massive network of rail and maritime links.
Annually, the US runs a steep trade deficit in goods with China of about $350 billion.
Trump says US trade deficit with Beijing unfair, adds ‘I don’t blame China’
Trump says US trade deficit with Beijing unfair, adds ‘I don’t blame China’
BYD Americas CEO hails Middle East as ‘homeland for innovation’
- In an interview on the sidelines of Davos, Stella Li highlighted the region’s openness to new technologies and opportunities for growth
DAVOS: BYD Americas CEO Stella Li described the Middle East as a “homeland for innovation” during an interview with Arab News on the sidelines of the World Economic Forum.
The executive of the Chinese electric vehicle giant highlighted the region’s openness to new technologies and opportunities for growth.
“The people (are) very open. And then from the government, from everybody there, they are open to enjoy the technology,” she said.
BYD has accelerated its expansion of battery electric vehicles and plug-in hybrids across the Middle East and North Africa region, with a strong focus on Gulf Cooperation Council countries like the UAE and Saudi Arabia.
GCC EV markets, led by the UAE and Saudi Arabia, rank among the world’s fastest-growing. Saudi Arabia’s Public Investment Fund has been aggressively investing in the EV sector, backing Lucid Motors, launching its brand Ceer, and supporting charging infrastructure development.
However, EVs still account for just over 1 percent of total car sales, as high costs, limited charging infrastructure, and extreme weather remain challenges.
In summer 2025, BYD announced it was aiming to triple its Saudi footprint following Tesla’s entry, targeting 5,000 EV sales and 10 showrooms by late 2026.
“We commit a lot of investment there (in the region),” Li noted, adding that the company is building a robust dealer network and introducing cutting-edge technology.
Discussing growth plans, she envisioned Saudi Arabia and the wider Middle East as a potential “dreamland” for innovation — what she described as a regional “Silicon Valley.”
Talking about the EV ambitions of the Saudi government, she said: “If they set up (a) target, they will make (it) happen. Then they need a technology company like us to support their … 2030 Vision.”
