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US, China trade war entail risks for Russian economy, says Maxim Akimov

News Agencies | Updated on: 25 May 2019, 10:08 IST
Russian Deputy Prime Minister Maxim Akimov

The US and China trade war entail risks for the Russian economy "as it will affect the global economy" said Deputy Prime Minister Maxim Akimov on Friday.

"US-China trade war will affect the global economic growth rate, and we greatly depend on it, because if the Chinese economy slows down, the demand for hydrocarbons and other commodities will also slow down. This will hit Russian exports," Sputnik quoted Akimov as saying.

Akimov also said that Huawei row is part of the technological war that is going alongside trade war between Washington and China.

He also expressed that technological warfare might lead to the technological fragmentation of the world.

The months-long trade negotiations between China and the US broke down recently. US has increased tariffs on Chinese goods amounting to over 200 billion USD even as the two sides were amid negotiations. In retaliation, China said that it would be increasing duties on USD 60 billion worth US imports from June 1.

The US Commerce Department also formally added Huawei to the list of companies the US government considers to be undermining American interests. By adding Huawei to the so-called Entity List, the Trump administration ensures Huawei will be covered by the new executive order.

The United States many times has publicly asked its allies to steer clear of using Huawei products over concerns that the equipment could be used by the Chinese government to obtain private information.

-ANI

First published: 25 May 2019, 10:08 IST
 
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