the Statement was dropped after the united nations handelsbyrå, Unctad, published a study on the expected effects of an escalating trade war between the U.S. and China.
“the Consequences to the whole international trading system would be significantly negative,” said Pamela Coke-Hamilton, united nations agency handelschef at a press conference.
the Smaller and poor nations would need to fight hard to cope with the management of the external change, ” she said.
According to the report, producers in east Asia will be hardest hit, with a projected decline in the exports of the equivalent of 160 billion dollars.
came on 1 december agreed on a cease-fire in the handelskonflikten during the 90 days. At the end of January met the parties in Washington for the discussions. A renewed meeting is scheduled in Beijing sometime after the chinese new year, which falls on Tuesday.
When the president of the united states Donald Trump, in 2018, began the trade wars by imposing duties on chinese products accounted for China with the same coin. The initial cause, according to Trump, was that the united states would reduce the huge trade deficit with China.
that China’s surplus with the united states instead increased by 17 per cent during the last year.
Soon, there remains only three weeks to the deadline of march 1, when the united states threatened to increase tariffs from 10% to 25% on chinese goods covering a value of 200 billion dollars.
What happens if the parties then agreed concerns the united nations.
the currency war will erupt, devaluations are forced forward and a situation that will lead to greater unemployment, warns the united nations.
“What is more important is the risk of a contagion which may lead to a flood of other distortive effects,” said Pamela Coke-Hamilton, reports the BBC.
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