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In 2017, Volvo Cars has reported a strong 27.7 percent increase in operating profit, earning a record 1.8 billion dollars, and the company itself, which was struggling when Geely took it over eight years ago, is thriving. As for Geely, it has seen substantial improvements in technologies and management after buying Volvo, and quickened its progress in making itself a global brand, which has set the stage for its investment in Daimler this time.

"If the tariffs are put into practice, our business in the United States will definitely be affected," he said. "U.S. companies will also be harmed as some of our parts are imported from the U.S."

"The stealth jets will improve the air force's comprehensive fighting ability and enable it to better safeguard China's sovereignty, security and territorial integrity," Shen said.

The unilateral move is a bullying tactic long played by Washington in the face of trade disputes, which uses its superior economic status to force concessions from its partners.

Speaking by telephone, Xi told Trump that he appreciates the U.S. president's desire to resolve the Korean Peninsula issue politically, hoping that the United States and the Democratic People's Republic of Korea (DPRK) will start dialogue as soon as possible and strive for positive results.