US-China Trade War Causing Collateral Damage: Australia

Sydney: The Prime Minister of Australia on Wednesday warned that the trade war between the US and China was causing collateral damage by aggravating rising global economic uncertainty. “The world’s most important bilateral relationship, the US-China relationship, is clearly strained - trade tensions have escalated, the collateral damage is spreading, the global trading system is under real pressure,” Scott Morrison said in a speech in Sydney, reported Efe news.

With a few days to go before the G20 summit in Japan - which will bring together leaders of China, US and other countries - Morrison urged the world’s two largest economies to resolve their trade dispute in accordance with the World Trade Organization and without undermining the interests of other parties, including those of Australia. The US believes that the regulated trading system in its current form does not have the capacity to cope with China’s policy practices and economic structure, Morrison said. (IANS)

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