Venezuelan president slams US trade war as end of Western globalization

Business & Economy April 10, 3:49

Nicolas Maduro said that 'this is a lethal wound to international trade and economic law, bilateral and multilateral trade agreements'

CARACAS, April 10. /TASS/. Venezuelan President Nicolas Maduro has slammed US tariffs on imports from the majority of world countries, saying that this trade war is the end of the Western globalization.

"The trade war against 185 world countries has led to a situation which can be called the end of the Western globalization," he said addressing the 9th summit of the Community of Latin American and Caribbean States (CELAC) via a video link.

"This is a lethal wound to international trade and economic law, bilateral and multilateral trade agreements. The World Trade Organizations has been dismantled by the trade war missiles," he said. "Sixty-five years ago, unilateral sanctions and restrictions were imposed on Cuba, later - on Nicaragua and Venezuela, and now - on the entire world." He stressed that the US measures are aimed against "the emerging multipolar world."

On April 2, US President Donald Trump announced plans to impose customs duties on products from 185 countries. Universal 10% tariffs came into force on April 5, while individual tariffs will come into effect from April 9. Apart from that, the US administration imposed 25% customs dues on all imported cars from April 3. Trump has also declared a state of emergency in the country over the economic situation.

On Wednesday, Trump said he is suspending additional import tariffs for certain countries, which have demonstrated their readiness for negotiations, for the period of ninety days. They will face 10% tariffs.

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