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Chinese PM says a trade war benefits no-one

"A trade war benefits no-one because it hurts free trade and the multilateral process," Li Keqiang told a summit with 16 EU and Balkan countries in Sofia in remarks translated from Chinese to Bulgarian.

"If a country wants to raise tariffs, China will respond to defend itself," he said.

The US and China on Friday launched tit-for-tat tariffs on each other's imports, the opening shots in what Beijing called "the largest trade war in economic history" between the world's top two economies.

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