The boss of the WTO sees positive signs in the US-China trade war
The director-general of the World Trade Organisation said he is worried about the brewing trade war between the US and China – but he also struck a hopeful note.
"I'm quite worried, but there are positive signs also," Roberto Azevedo said in an interview with the BBC.
"The fact that the two sides are talking to each other is helpful. In the WTO, they have been trying to address this situation with various departments, including dispute settlement.
"This could lead to litigation, but this is still a more normal way of doing things," Azevedo said.
Ratings agencies Moody's and Fitch earlier this week predicted the two nations will resolve the dispute over negotiations.
Moody's said the trade dispute between the US and China will not escalate significantly, "given the detrimental impact additional restrictions would have on both economies", while Fitch added that "a negotiated solution is most likely".
The WTO has warned that the tit-for-tat tariff war could put global trade, which has just seen its quickest growth in six years, at risk.
The Trump administration has threatened China with tariffs on $150bn worth of goods in retaliation against intellectual property infringement, and that's in addition to tariffs on steel and aluminium.
China has imposed its own tariffs on US goods and filed a complaint with the WTO over the duties of 25 per cent and 10 per cent on respective imports of steel and aluminium.
Read more: European Central Bank bosses express fears over global trade war
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