Biden tells Xi China would face costs from U.S. and wider world Xi says sanctions could trigger serious crisis in global economy Xi and Biden both stress need for diplomatic solution WASHINGTON/BEIJING, March 18 (Reuters) – U.S. President Joe Biden warned Chinese leader Xi Jinping on Friday of ‘consequences’ if Beijing gave material support to Russia’s invasion of Ukraine, the White House said, while both sides stressed the need for a diplomatic solution to the crisis. While the White House did not detail what those consequences could be, or how the U.S. would define “material support”, press secretary Jen Psaki indicated China’s massive trade flows could be impacted. “Sanctions are certainly one tool in the tool box,” Psaki told a regular news briefing when asked whether China, the world’s largest exporter, could face trade tariffs or sanctions. Speaking after a nearly two-hour video call between Biden and Xi, Psaki […]