China says ‘no winners’ in trade war after US cooking oil threat

BEIJING – China said on Oct 15 that trade wars have “no winners”, after US President Donald Trump warned that the US could stop buying cooking oil from the country.

He issued the threat on Oct 14,

after slamming Beijing’s halt to US soya bean purchases

as an “economically hostile act”.

“We are considering terminating business with China having to do with cooking oil and other elements of trade, as retribution,” he said on his Truth Social platform.

While tensions between Washington and Beijing have eased from their peak earlier in 2025, a truce struck by the leaders remains shaky.

Beijing imposed fresh controls on the

export of rare earth materials and other technologies

last week, leading Mr Trump to warn on Oct 10 that he would

roll out an additional 100 per cent tariff

on the country’s goods from Nov 1.

China’s Foreign Ministry said on Oct 15 that trade disputes were “not in the interests of any party” when asked about the US leader’s threat on cooking oil, which is used for biofuels, including biodiesel and sustainable aviation fuel.

“The two sides should resolve relevant issues through consultation on the basis of equality, respect and mutual benefit,” spokesman Lin Jian told reporters at a regular briefing.

“China’s position on China-US economic and trade issues is consistent and clear,” he added.

The US was the biggest purchaser of Chinese used cooking oil in 2024, buying 1.27 million tonnes, a rise of more than 50 per cent from 2023.

That accounted for more than 40 per cent of Chinese exports of the product, according to the US Department of Agriculture.

Beijing on Oct 15 also defended its latest export controls on rare earths as protecting global security, after European Union trade chief Maros Sefcovic said the restrictions were unjustified and called for a response.

China is the world’s leading producer of the minerals used to make magnets, crucial to the auto, electronics and defence industries.

Chinese leaders had “made clear their position” on their latest policies, Mr Lin said.

Controls were implemented “to better safeguard world peace and regional stability and to fulfil international obligations such as non-proliferation”, he added. AFP