Xi Jinping called trade and tariff wars undermining the global economy

Trade and tariff wars are seriously undermining the global economy. This was announced by Chinese President Xi Jinping on August 8 during an extraordinary online BRICS summit.

"Individual countries are launching trade and tariff wars one after another, which are seriously undermining the global economy and causing serious damage to the rules of international trade," he said.

According to the Chinese leader, no country can afford self-isolation, it is necessary to build an open global economy.

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On August 12, American leader Donald Trump announced the signing of a decree suspending the increase in duties on goods from China for a period of 90 days. He stressed that all previous U.S. agreements remain unchanged.

At the same time, according to Bloomberg, the Chinese authorities were prepared in advance for a trade war with the United States and the possible imposition of duties that Trump threatened against Beijing.

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