14 Apr, 14:33

US tariff policy gives opportunity to Russia and China to boost trade — expert

Zheng Runyu pointed to opening prospects of in ramping up cooperation with Russia in the food security sphere

BEING, April 14. /TASS/. The US pressure on China through the tariff hike improves opportunities to develop trade between Russia and China, expert of the Russia Studies Center at the East China Pedagogical University in Shanghai Zheng Runyu told TASS.

"The strong US pressure on China with the use of tariffs gave a new impetus to strengthening trade and economic cooperation between China and Russia. More opportunities emerged to expand trade between China and Russia, the demand is also growing," the expert said, adding that strengthening of Sino-Russian cooperation in the energy sphere may play a particular role in the evolving situation.

"The Sino-Russian energy cooperation will be the area facilitating further progress in trade between China and Russia," Zheng said. The hostile pressure of the US on China creates the situation when Beijing will not need to take care anymore of the effect of US sanctions and various anti-Russian constraints on development of comprehensive economic relations between China and Russia, he noted. "The rise in trade between China and Russia will not be constrained by the US factor anymore," Zheng stressed.

The expert also pointed to opening prospects of in ramping up cooperation with Russia in the food security sphere. The trade war between the US and China will directly affect the important economic and trade sphere, he noted. This refers to agricultural products, Zheng believes.

"Russia has a serious advantage in this aspect. China and Russia are continuously expanding the area for cooperation in the agricultural products sphere in recent years; many areas and markets were opened for cooperation. In case the US continues its tariff pressure, China may reduce its long-term excessive imports of agricultural products from the US, since it contains a hidden threat in itself for national food security of China. China in current conditions may continue promoting import substitution of agricultural products, diversification of trade, and focus on strengthening cooperation with Russia," the expert added.

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Trade & Cooperation

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