Arancha González, the Executive Director of the International Trade Centre (ITC), told DW that the ongoing trade conflict between the US and China is already having a major impact on the ground for ordinary workers.
The US and China have made progress and come to a "phase one" deal, US President Donald Trump has said. Washington suspended the tariff hike on $250 billions in Chinese goods which was set to go into effect next week.
US President Donald Trump spoke of "very, very good negotiations with China" after a day of trade talks at the White House on Thursday. But experts say the most one can hope for is token concessions.
The US government plans to order punitive tariffs on billions of dollars' worth of EU goods after it scored a victory in a long legal fight at the WTO. Many on the EU side warn of retaliation and potential escalation.
A devaluation of China's currency during the ongoing trade war with the US may lead to more prosperity for Germany and the rest of the world, except the United States. But not much, an ifo report suggests.
© 2019 Deutsche Welle |
Legal notice |
| Mobile version