Oreshkin predicted slowdown of the us economy

© RIA Novosti / Evgeny to Betemporary in photobackpack.. Archival photoOreshkin predicted slowdown of the us economy© RIA Novosti / Evgeny to Betemporary the image Bank

The growth of the US economy will only slow down if the current trade policy, said the Minister of economic development Maxim Oreshkin, speaking at the Ministerial meeting of the WTO in Paris.

«Unfortunately, with current policies, the U.S. economy would only slow down, interest rates to rise, and emerging markets will suffer due to the tightening of financing conditions, trade restrictions and slowing global growth,» — quoted. the press service of the MAYOR.

«Today we see the US shoot itself in the foot, at the same time causing harm and the global economy», — said the Minister.

The United States imposes import duties on steel and aluminium (25% and 10%) from Europe, Canada, Mexico and other countries, with the exception of Argentina, the Declaration signed by Donald trump, distributed on Thursday by the press service of the White house.

As history shows, positive changes in the regulation of global trade can only occur after periods of rapid deterioration, said Oreshkin. «Maybe we’re sitting in the train with the next stop «global crisis». It’s sad,» said the Minister.

According to him, Russia will continue to protect its economy from volatility on global markets, as well as work in the WTO on the development of trade cooperation.