In 2017, weeks after Donald Trump’s first presidential election victory, Xi Jinping became the first Chinese head of state to address the World Economic Forum in Davos, Switzerland — winning applause as he inveighed against protectionism and declared that a trade war would hurt both sides.

China’s Vice President has announced plans for the country to increase its imports of goods, ahead of the potential tariff hikes mentioned by Donald Trump on his first day in the White House. Speaking at the World Economic Forum in Davos,

“I’m pretty comfortable with the market expectations for the upcoming two meetings,” the Dutch central banker told Bloomberg TV. “I’m not convinced yet that we need to go into stimulative mode.”