Global trade relations are witnessing a paradigm shift. During the Fourth Ministerial Meeting of the Forum of China and Community of Latin American and Caribbean States (CELAC) in Beijing, Chinese President Xi Jinping delivered a significant speech on May 13, 2025. Speaking against “bullying” and “hegemonism,” Xi laid out his vision for global trade cooperation and condemned the unilateralism and protectionist tendencies that have shaped trade policies in recent years. This momentous speech also followed the announcement of a temporary truce in the U.S.-China trade war, adding greater importance to Xi’s remarks.
This blog analyzes Xi’s perspectives on trade hegemony, his commitment to fostering relations with Latin American and Caribbean nations (CELAC), and the broader implications of these remarks on global trade dynamics.
Table of Contents
Xi Jinping’s Stance on “Bullying or Hegemonism”
Opposition to Bullying Tactics in Trade
Xi Jinping made a strong statement against trade practices that involve hegemonism or economic bullying. Without explicitly naming the United States, his comments targeted nations or policies seeking dominance at the expense of fair and equal trade practices. Xi emphasized that bullying only leads to “self-isolation” and hinders nations from fully participating in the global economy. This rhetoric aligns with China’s resistance to external pressures during trade disagreements with the U.S.
Unity and Cooperation as the Pillars of Trade
Xi strongly argued for unity and cooperation among nations, asserting that “great changes unseen in a century are accelerating.” His narrative pushed for a collective approach to trade policies rooted in mutual benefit, making a compelling case for why nations cannot act alone if they want to prosper in an increasingly interconnected world. His statements positioned China as a staunch advocate of globalization and a defender of equitable trade practices.
“No Winners in Trade Wars”
Of particular significance was Xi Jinping’s poignant remark, “There are no winners in tariff wars or trade wars.” The statement reflected China’s discomfort with the preceding years of trade escalations with the U.S., underscoring how such conflicts amplify economic strain on all parties involved. Xi aimed to reaffirm China’s support for open markets and free trade by highlighting the mutual losses imposed by trade barriers and tariffs.
Strengthening Relations with Latin America and the Caribbean (CELAC)
The China-CELAC Forum provided the ideal platform for Xi Jinping to assert his vision of expanding China’s influence and trade partnerships in Latin America and the Caribbean. Established in 2014, this forum is the heart of Beijing’s efforts to compete with Washington’s historical dominance in the region.
Strategic Importance of China-CELAC Relations
China views Latin America and the Caribbean as critical partners in its broader trade and foreign policy goals. Trade between China and CELAC countries reached over $500 billion in the past year, highlighting the economic significance of the collaboration. During his speech, Xi positioned China as a partner of choice for CELAC nations, promoting a shared growth and development narrative.
Investment Commitments and Financial Pledges
A key highlight of Xi’s remarks was his pledge to provide 66 billion yuan (approximately $9.2 billion) in credit lines to CELAC countries. This commitment signifies China’s growing interest in fostering infrastructure and development projects in the region. The use of yuan-denominated loans is particularly significant. It reflects Beijing’s ambition to popularize its currency in global markets, cementing its economic presence in this part of the world.
Advocating for Independence and Justice
Xi framed China and CELAC nations as important members of the “Global South,” emphasizing shared values of independence, autonomy, and fairness. He sought to position China as a champion for the rights of developing nations, which is the basis of a long-term strategy to strengthen China’s soft power influence in Latin America and beyond.
The U.S.-China Trade Truce and Its Broader Implications
Xi’s speech coincided with a temporary truce in the ongoing trade war between the U.S. and China, which saw both nations agree to drastically roll back tariffs on each other’s goods for 90 days. This unexpected breakthrough marked a brief cooling-off period in tensions that significantly damaged global markets.
Xi’s Perspective on the Trade Truce
While welcoming the de-escalation, Xi remained cautious, reaffirming that China will not submit to external pressure. For months before the truce, Beijing resisted U.S. demands, holding firm against tariffs that soared over 100%. Instead of compromise, China doubled diplomatic efforts, presenting itself as a defender of global trade. Xi’s remarks signaled continuity in this approach, despite the temporary resolution.
Future Outlook on U.S.-China Trade Relations
Although the truce likely temporarily relieved both economies, underlying tensions remain unresolved. Intellectual property rights, technology transfers, and market access remain obstacles. Xi’s call for equitable trade highlights the need for a longer-term resolution grounded in mutual respect and cooperation.
The Role of Trade in Xi’s Global Vision
Xi Jinping’s remarks can be seen as part of a broader strategy to establish China as a central force in the future of global trade. By opposing unilateralism and promoting partnerships with regions like Latin America, Xi aims to solidify China’s position as a trading giant and advocate for developing nations seeking fair treatment on a global scale.
From Beijing’s perspective, the U.S.-China trade war offers an opportunity to present itself as a reliable and equitable alternative to the often-criticized unilateral actions of Washington. Xi’s commitment to fostering unity and mutual benefit adds significant weight to China’s ambitions of creating a multipolar world order.
Why Xi Jinping’s Remarks on Trade Matter
Xi Jinping’s remarks demonstrate China’s evolving strategy to redefine global trade relationships. By directly addressing hegemonism, emphasizing the concept of no winners in trade wars, and pledging meaningful alliances with developing regions, Xi has made a powerful statement about China’s priorities in the global economy.
For Latin America, the collaboration with China represents an opportunity to diversify economic partnerships and secure significant funding for regional development. Xi’s words remind the broader global audience of the need for fairness, solidarity, and cooperation in resolving trade disputes.
How effectively China can sustain its vision while navigating complex diplomatic dynamics with nations such as the United States remains to be seen. However, one thing is clear: Xi Jinping’s message on the importance of unity and rejecting trade hegemony resonates in a rapidly changing world.
FAQs About China’s Xi and Trade
What is the China-CELAC Forum?
The China-CELAC Forum was established in 2014 to enhance cooperation between China and the Community of Latin American and Caribbean States (CELAC). It aims to strengthen trade, investment, and diplomatic relationships.
Why is Latin America important to China?
Latin America is a major trading partner and an emerging region for China’s global influence. Chinese investments in infrastructure, loans, and trade agreements have deepened ties with the area, providing economic and strategic benefits.
What is Xi Jinping’s stance on the U.S.-China trade war?
Xi Jinping consistently emphasized the damage caused by trade wars and unilateralist policies. He calls for a cooperative approach and highlights that there are no true winners in tariff conflicts.
What is the significance of China’s $500 billion trade volume with CELAC countries?
This milestone underscores the growing importance of Latin America in China’s trading strategy and solidifies China’s role as a key economic partner in the region.
What are the implications of the trade truce between the U.S. and China?
While the truce offers temporary relief, it does not resolve deeper issues, causing trade tensions. Both countries are expected to continue negotiating on intellectual property and technology transfer issues.