European Union leaders have warned of the damage caused by the ongoing US-China trade war to the world economy and appealed for rules-based international trade.
The strained relations between Washington and Beijing over trade are “difficult” and contributing to a slowdown in the global economy, European Commission President Jean-Claude Juncker said on Friday in Osaka, as the world’s Group of 20 economies began their two-day summit in the western Japanese port city.
“We meet at a time when the world economy is encountering uncertainties,” Juncker said, adding that all countries would struggle to prosper if others did not play by the rules.
“In our talks with both the US and Chinese authorities … I was drawing their attention to the harmful impact this controversial matter is creating.”
European Council President Donald Tusk called on all countries to adopt a more open and liberal stance.
“The global stage cannot become an arena … where egotists would dominate in some regimes and nationalistic emotions would dominate over economic terms,” Tusk said, adding that every country had a responsibility for not only its own interests but a fair and safe world order.
[To view the original article, click here]