US tariff war to adversely affect international trade: China

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Beijing, July 18 (IANS) China on Wednesday continued its attacks on the trade war launched by the US on its exports and said that it would harm global confidence in the economy and growth of international trade.

Beijing believes that the series of tariffs imposed by Washington will “drag the world economy into danger” and weaken confidence at the global level, Foreign Ministry spokesperson Hua Chunying said at a press conference here.

“The trade war will deal a blow to global trade growth,” Hua was quoted as saying by Efe news.

International agencies like the International Monetary Fund (IMF), World Bank and the Organization for Economic Cooperation and Development, warned in recent weeks that the trade war would negatively impact international trade and growth, he said.

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Referring to IMF figures, Hua said global trade will fall by five per cent over the next five years and if the trade conflict continues, it will profoundly damage the global economy.

–IANS

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