China warns against trade war as Trump threatens tariffs

China has responded to former President Trump's recent tariff threats, stating that "no one will win a trade war." The Chinese Embassy emphasized the mutual benefits of U.S.-China economic cooperation. China also addressed concerns about fentanyl, asserting that it does not knowingly allow precursors to enter the U.S. The statement highlighted ongoing cooperation in law enforcement against narcotics. Trump's tariff threats have impacted foreign exchange markets, particularly affecting commodity currencies and the Chinese yuan. The situation reflects early tensions as Trump prepares to take office on January 20.