Europe: US-China trade dispute ‘slowing global economy’

JAPAN

Leaders of the world’s top economies gather in Japan, with sideline discussions planned on Iran and US-China trade.

European leaders have said that the US-China trade dispute is contributing to a global economic slowdown.

Speaking in the Japanese city of Osaka, where representatives of the world’s top economies are gathering for the two-day G20 summit, Jean-Claude Juncker said: “The trade relations between China and the US are difficult, they are contributing to the slowdown of the global economy.

The European Commission president added: “In our talks, both with the US and the Chinese authorities… I was drawing their attention to the harmful impact this controversial matter is creating.”

The summit comes at a time of increased tensions over trade, particularly between the world’s two largest economies.

US President Donald Trump is due to meet Chinese President Xi Jinping on Saturday as the summit concludes and there are hopes this meeting could bring an end to the dispute.

But it could instead see Mr Trump slap further tariffs on Chinese products as part of his “America first” stance.

Chinese foreign ministry spokesman Geng Shuang said Mr Trump’s threats to impose further tariffs “won’t work on us because the Chinese people don’t believe in heresy and are not afraid of pressure”.