There will be no trade war between two of the world's largest economies

By: trademagazin Date: 2010. 10. 04. 00:00

“There will be no trade war between China and the United States” – said Timothy Geithner American Finance Minister, after the U.S. voted to use the protective tariffs against China, protesting against the underestimation of the yen.

Beijing also reacted with restraint for the verdict of Washington: According to the spokesman of the Minister of Trade; Beijing is ready to jointly develop the steps with its American partners, that will balance trade between the two countries.
Timothy Geithner also believes, that the two countries can cope with the adverse consequences for U.S. companies, that cames from the underestimation of the yen – reports

Related news