French President Macron and Chinese President Xi have announced a new trade deal worth 13.5 billion euros. Macron and Xi also expressed support for the Paris Agreement on Climate.

French President Emmanuel Macron and Chinese President Xi Jinping declared strong multilateral cooperation and increased free trade. “China and Europe are of the same opinion that a trade war only brings losers,” Macron said during a visit to Beijing. The priority now is to develop new market approaches and partnerships between companies.

Therefore, both countries signed new trade agreements worth 13.5 billion euros (US $ 15 billion). In particular the document in question covers air transport, finance and the environment. China and France hope the deal will strengthen co-operation in the production of aircraft and helicopters.

Demonstration signal against US

Macron’s visit to China could also be taken as a signal to defuse the ongoing tensions that prevail in the world economy and trade, especially in connection with the trade war between Washington and Beijing, but also because of growing pressure on China from the EU. The EU criticizes the leadership in Beijing for discriminating against European enterprises despite major promises of reform.

But it was not just about economic cooperation. Macron also spoke of problems with basic freedoms and human rights, particularly in connection with ongoing protests in Hong Kong. Macron and Xi also declared themselves in support of the Paris Climate Agreement. Both stressed their “strong support” for the 2015 global pact. The Paris Agreement is irreversible and “a compass for more energetic climate action”, reads a statement on Macron’s visit to China.

Warning about the consequences of climate change

In the letter, both presidents warn of the danger of “losing biodiversity”. Climate change also threatens peace and stability around the world. These statements are a demonstrative signal against the US decision to withdraw from the Climate Agreement. Washington officially announced its exit Monday. The decision was met with massive criticism around the world. The agreement came into force three years ago.