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Indiaexportnews.com

China has to take actions to prevent trade war: Canada

  27.04.2018    

China's President Xi Jinping has to back up his words with actions if he wants to avoid a trade war, Canada's ambassador to China John McCallum told CNBC.
"Xi Jinping has used very strong language in favour of globalisation, in favour of freer trade. But it would be good if he could match those statements with actions," Mr McCallum said, referring to President Xi's speeches at Davos last year and at the Boao forum this year.
"Their actions have not always matched their words. So the more they could act, the more it would help the world to preserve the international system and avoid a descent into a trade war," he added.
The comments come as China has introduced a 25 per cent levy on US imports, including products such as soybeans, cars and whiskey, in a tit-for-tat row after US President Donald Trump targeted a list of Chinese imports.
China is the biggest export market for Canadian soybeans and while Canada might stand to benefit from tariffs on US soybeans the Ambassador told CNBC that a US-China trade war in general will still have a negative impact on Canada and the global economy at large.
"Canada is a trading nation, and if the world trading system is in jeopardy, then Canada is hurt," he explained. "So that is why even though we may have certain gains if this occurs, we still hope that there will not be a trade war and a settlement will be reached."



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