MOSCOW, September 19. /TASS/. The trade war between the US and China won’t seriously affect the volume of global trade and the Chinese economy, even after the third round of raising tariffs, head of Russia’s Audits Chamber Alexei Kudrin wrote in Twitter.
"But the actions of Trump weaken the WTO system and create uncertainty and distrust of investors. They compare the tariff war against China with the sanctions against Russia, but the trade measures against China are easily reversible - it is enough for Trump to cancel several of his decrees," he wrote.
Kudrin stressed that while the trade measures against China are reversible, the sanctions against Russia were initiated by the US Congress it will be very difficult to get rid of them.
On September 18, US President Donald Trump announced the introduction of 10 % duties on imports goods from China worth $ 200 bln from September 24, as well as the intention to introduce additional duties worth $267 bln, if Beijing takes retaliatory measures.
China has already announced that on September 24 they will introduce customs duties of 5% and 10% on imports from the US totaling $60 bln.
Trade war
In May, the White House announced that Washington intends to impose restrictions on certain China’s investments and 25% customs duties for the total sum of $50 bln on certain categories of its goods supplied to the US market. These measures will be taken due to the fact that "China has consistently taken advantage of the American economy with practices that undermine fair and reciprocal trade."
The duties were introduced in two takes for the sums of $34 bln and $16 bln on July 6 and August 23 respectively. The Chinese authorities immediately responded by imposing duties on US imports on similar amounts.