UNITED STATES (OBSERVATORY) – The chief economist of the International Monetary Fund (IMF), Maurice Obstfeld, said that the US and China still want to avoid a trade war by negotiating, Reuters reports.
Speaking at a press conference before the spring meetings of the IMF and the World Bank in Washington, Obstfeld said it is still too early to declare the beginning of a trade war, as import tariffs did not come into force.
“At the moment, although some warning shots have been made, this is more of a fake war,” he said.
“I think that there is still room for more multilateral discussion to take advantage of a set of dispute resolution mechanisms to avoid intensification,” Ostfeld added.
In early April 2018, the US announced a list of goods imported from China worth about $ 50 billion, for which it is planned to introduce duties at a rate of 25%.
US fees will affect Chinese products in various sectors: aerospace, information technology, engineering, robotics, etc. In total, 1,300 items of Chinese products were included in the list.