BEIJING (Reuters) -Chinese President Xi Jinping said on Wednesday that tariff and trade wars undermine the legitimate rights and interests of all countries, hurt the multilateral trading system and impact the world economic order,

Standing outside his friend’s cupcake shop, he says Donald Trump’s levies are a sign that America feels threatened by China’s rise. America’s power is declining, he says. “What you feel in today’s world is that hegemony is very hard to achieve.

Chinese President Xi Jinping has warned that tariffs threaten the interests of all countries amid an ongoing de facto trade embargo between China and the United States. During a meeting with Azerbaijan President Ilham Aliyev on Wednesday,