Lavrov told about the dangers of trade wars for the global economy

© RIA Novosti / Alexei Filippoupolitis in fotobanka foreign Minister Sergey Lavrov speaks at a General meeting of the Russian Council on international Affairs in the House of receptions of the MFA of Russia. 20 Nov 2018Lavrov told about the dangers of trade wars for the global economy© RIA Novosti / Alexei Filippoupolitis the image Bank

Trade wars, unleashed, in violation of world trade organization undermines global economic architecture, said the Russian foreign Minister Sergei Lavrov.

«Unleashed in violation of WTO trade wars undermine global economic architecture, standards, free trade and competition,» Lavrov said at a meeting of the Russian Council on international Affairs.

A trade war between China and the United States began after July 6, 2018, entered into force mutual increased customs duties between these countries. USA imposed a duty of 25% on 818 import of goods from China total volume of supply in 34 billion dollars a year.

As a countermeasure, China on the same day, imposed a duty of 25% on import of equivalent amount of American goods. In late September, entered into force the new US tariff of 10% on goods from China import volume at $ 200 billion a year. China introduced in response to the fee at the rate of 10% and 5% on American imports with a volume of $ 60 billion.

Lavrov told about the dangers of trade wars for the global economy© Infographical war, the United States

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