US instigation of a trade war is extremely destructive to global trade - China State Media

Omkar Godbole FXStreet Contributor

An editorial in the ruling Communist Party's official People's Daily called Trump administration's protectionist policies as "obsession with playing the disgraceful role of global economic disruptor", according to Reuters News.

It added further that US instigation of a trade war is extremely destructive to global trade, economic globalization, multilateral trade systems and global production supply chains and the whole world will be picking up the bill for the mistaken acts of US unilateralism.

On Friday, Trump administration said it would impose tariffs on $50 billion of Chinese imports. In response, China announced additional 25 percent tariffs on 659 U.S. goods worth $50 billion.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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