Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
Moscow, May 15 /Xinhua/ — Trade de-escalation between China and the United States is positive news for global trade, Russian Foreign Ministry spokeswoman Maria Zakharova said on Thursday.
Recently, China and the United States held high-level trade and economic talks in Geneva, Switzerland, and issued a joint statement. The talks reached an important consensus on significantly reducing bilateral tariff levels. Both sides reached a number of agreements, which were reflected in the joint statement.
“The trade de-escalation between China and the US is positive news for global trade,” said M. Zakharova, answering questions at a briefing. “This step largely reduces the fears that have grown in recent months about a global economic recession due to the reduction in the volume of international trade in goods, including due to the sharp increase in mutual tariffs.”
According to M. Zakharova, a positive effect is already noticeable in the form of stabilization of global financial markets and restoration of supply chains of products that were hit hardest by the “tariff tornado.”
The official representative of the Russian Foreign Ministry added that the agreements reached by China and the United States on the creation of a mechanism for economic and trade consultations could in the future serve as a basis for developing balanced decisions in the trade and economic sphere that would take into account the interests of the two countries.
“Such a dialogue, built on the principles of pragmatism and, of course, mutual respect, is capable of setting constructive parameters for the further development of bilateral relations in this area,” concluded M. Zakharova. –0–