Luxembourgian politician says no winner in trade wars

0 Comment(s)Print E-mail Xinhua, May 23, 2019
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LUXEMBOURG, May 22 (Xinhua) -- Trade conflicts are never good as there is never a true winner, Laurent Mosar, former president of the Chamber of Deputies of Luxembourg, said here on Tuesday.

All parties involved should negotiate and find solutions that correspond to the respective interests of both countries, Mosar told Xinhua.

"I believe that this kind of trade war policy never works, because trade relations can only develop in a situation of predictability, calm and legal certainty," he said, referring to the Washington-initiated trade tensions against its trading partners.

In the name of protecting domestic industries, the United States has placed steep tariffs on billions of U.S. dollars' worth of products from its major trading partners, including the European Union, Canada, China and Japan, raising trade tensions around the world and shaking the foundation of the global trading system.

Washington's move of "triggering waves of conflict is clearly the wrong approach," Mosar said.

As regards the U.S.-China trade disputes, Mosar said, "in the end, it will not only be a problem for China, but a problem for the United States and the European Union too." Enditem

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