• China's envoy urges US to pursue peaceful coexistence amidst escalating trade war.
• Ambassador Xie Feng warns against repeating historical tariff mistakes from the Great Depression.
• Current tariffs between China and the US exceed 100%, crippling bilateral trade.
• US President Trump acknowledges the need for careful tariff policies to avoid damaging the economy.
• No high-level trade negotiations are planned between the two countries at this time.

China's ambassador to the United States, Xie Feng, has called for the US to avoid repeating the tariff mistakes of the Great Depression era amidst the ongoing trade tensions between the two nations. Speaking at a public event in Washington, Xie emphasized the importance of seeking common ground and pursuing peaceful coexistence rather than escalating conflict, making comparisons to the protectionist policies of the past that have historically harmed global trade, according to Reuters.

Xie highlighted the adverse effects of tariffs on both economies, stating that the current tariffs have exceeded 100%, effectively freezing trade between the two countries. He warned that the situation could lead to shortages and rising prices for consumers worldwide. Citing the Smoot-Hawley Act as a cautionary tale, he noted, "The lesson of the Smoot-Hawley Act is still fresh today," indicating that such protectionist policies could prolong economic distress rather than relieve it, as reported by Channel News Asia.

Expressing the need for harmony in bilateral relations, Xie invoked traditional Chinese philosophy, suggesting that economic interdependence should not be weaponized. He stated, “If supply chains are blocked, it will lead to shortages, rising prices, and harm to people everywhere.” This message comes amid reports of the US planning to increase port fees on China-linked ships, escalating tensions further, according to South China Morning Post.

While President Trump has indicated ongoing private discussions with China, he has faced criticism for his administration's tariff policies, which currently impose rates as high as 245% on Chinese products. Despite these challenges, he expressed optimism, stating, "I think we are going to make a very good deal with China," although no formal negotiations appear to be on the horizon, as reported by Reuters.