09:43 GMT +316 December 2018
Listen Live
    The People's Republic of China flag and the U.S. Stars and Stripes fly along Pennsylvania Avenue near the US Capitol during Chinese President Hu Jintao's state visit in Washington, DC, US on January 18, 2011.

    Biggest 'Confidence Killer' for World Economy: Beijing on US-Led Trade War

    © REUTERS / Hyungwon Kang
    Business
    Get short URL
    0 40

    BEIJING (Sputnik) - Trade war based on the policy of unilateralism and internal political interests of one country has become the biggest "confidence killer" for the global economy, Chinese Foreign Ministry spokeswoman Hua Chunying said on Wednesday.

    "Day by day, the ever-growing trade war has become the biggest 'confidence killer' for the global economy," Hua said at a regular press briefing.

    According to the diplomat, trade war based on the internal political interests of one country is "a typical example of unilateralism and thinking based on a 'zero-sum' game, a complete deviation from international norms and global governance, established after the end of World War II."

    READ MORE: China May Boost Iranian Oil Purchases Once US Sanctions Step Into Force — ReportChina May Boost Iranian Oil Purchases Once US Sanctions Step Into Force — Report

    Earlier in July, the United States slapped 25 percent tariffs on $34 billion of Chinese goods, prompting reciprocal action from Beijing.

    Washington has also threatened 10-percent tariffs on further $200 billion worth of Chinese goods, with Beijing promising to fight back if such measures were applied.

    Related:

    US Launches WTO Disputes Against Reciprocal Tariffs From China, EU, Canada
    EU Urges US, Russia and China to Avoid Trade Wars, Speed Up WTO Reform
    China Says BRICS to Step Up Group Decision-Making Amid US Trade Row
    Trump-China Tariff Battle Jeopardizes Livelihoods of US Auto Workers
    Tags:
    row, war, trade, China, United States
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik