The trade dispute between the United States and China could well expand into other areas given the significant “ammunition” the two countries have, the director-general of the World Trade Organization (WTO) said on Wednesday.
Speaking at an event in Rio de Janeiro against the backdrop of growing trade tensions between Beijing and Washington, Roberto Azevedo said the WTO has focused on trying to increase dialogue between the two countries.
“I’m very concerned,” he said at the event. “To be honest, I don’t think it’s over. They have lots of ammunition and it can expand to other areas beyond just tariffs ... and trade.” He did not elaborate.
On Tuesday, in the latest sign of deteriorating commercial relations between the world’s two largest economies, Beijing added $60 billion worth of U.S. products to its import tariff list in retaliation for U.S. President Donald Trump’s planned levies on $200 billion worth of Chinese goods.
https://www.reuters.com/article/us-brazil-trade/u-s-china-have-lots-of-ammunition-and-trade-spat-could-escalate-wto-chief-idUSKCN1LZ2IN
Speaking at an event in Rio de Janeiro against the backdrop of growing trade tensions between Beijing and Washington, Roberto Azevedo said the WTO has focused on trying to increase dialogue between the two countries.
“I’m very concerned,” he said at the event. “To be honest, I don’t think it’s over. They have lots of ammunition and it can expand to other areas beyond just tariffs ... and trade.” He did not elaborate.
On Tuesday, in the latest sign of deteriorating commercial relations between the world’s two largest economies, Beijing added $60 billion worth of U.S. products to its import tariff list in retaliation for U.S. President Donald Trump’s planned levies on $200 billion worth of Chinese goods.
https://www.reuters.com/article/us-brazil-trade/u-s-china-have-lots-of-ammunition-and-trade-spat-could-escalate-wto-chief-idUSKCN1LZ2IN