The US-China trade agreement poses threat for international trade and may trigger trade disputes starting 2021-2022, Russian Presidential Aide Maksim Oreshkin said in an interview with the Rossiya-24 TV news channel following the World Economic Forum in Davos, Eurasia Diary reports citing Tass News.
"The European reaction on the US-China deal, in which China commits to boosting purchases of US goods, raises fears," he said.
The agreement itself is not worrisome, Oreshkin said, adding though that a number of questions remain, for example, which principle China will use for shifting from European to US products, whether those will be market principles or additional barriers will appear for European products. "That means it is a catastrophe waiting to happen, which I do not expect in 2020, of course, but starting from 2021-2022 (Russia) together with the US, China and Europe and other countries will witness many disputes," he explained.
Russia remains committed to multilateral formats in global trade, such as the World Trade Organization (WTO), Oreshkin said. "I do not think that two-sidedness is the new future for international trade policy. We in Russia definitely remain fully supportive of multilateral formats, the WTO, and I should put it very simply - what is liked by two is not necessarily liked by the third and all others," he emphasized.