#WEF Trade war between China and US could cut GDP growth significantly

Director of the World Trade Organisation (WTO), Roberto Azevêdo of Brazil, says a trade war would be a catastrophe of immense proportions.

This follows Donald Trump's threat of imposing punitive tariffs of up to 45% on China’s exports to the US.

EWN reporter Stephen Grootes says Azevêdo said that people should avoid talking themselves into a trade war.

Azevêdo was speaking at the 46th World Economic Forum which is currently underway in Davos.

An interesting comment made during the panel was that if the US impose the 45% tariff on Chinese imports, it will cut China's GDP growth by a third and cut the GDP growth in the US by half. These are incredible numbers...

Stephen Grootes, EWN

To hear more please listen below:

(For more news, analysis and insights on Davos 2017 go to EWN’s WEF portal in partnership with Ashburton Investments.)


Recommended

by THE NEWSROOM
Read More
‘Converting words into action is a challenge’ – Pravin Gordhan (from the WEF)

‘Converting words into action is a challenge’ – Pravin Gordhan (from the WEF)

The Money Show’s Bruce Whitfield interviews Finance Minister Pravin Gordhan who is at the World Economic Forum in Davos.

There's unity in Team South Africa - Ramaphosa #WEF2017

There's unity in Team South Africa - Ramaphosa #WEF2017

SA will employ 1 million youth says Deputy President Cyril Ramaphosa from the 46th World Economic Forum in Davos.

#WEF: Day three at Davos deals with populism

#WEF: Day three at Davos deals with populism

EWN's Stephen Grootes reports on day three of the World Economic Forum currently underway in Davos.

US VP Joe Biden criticises Russia at #WEF2017

US VP Joe Biden criticises Russia at #WEF2017

EWN senior reporter, Stephen Grootes gives an update on the second day of the World Economic Forum (WEF) in Davos.

The South Africans are more cheerful than everybody else! - Stephen Grootes

The South Africans are more cheerful than everybody else! - Stephen Grootes

The Money Show’s Bruce Whitfield interviews EWN's Stephen Grootes, who is at the 2017 World Economic Forum in Davos.

US Vice President lashes out at Russia

US Vice President lashes out at Russia

Outgoing United States Vice-President Joe Biden says Russia is using every tool to whittle away at the European project.

SA delegates optimistic about 2017 at WEF in Davos

SA delegates optimistic about 2017 at WEF in Davos

EWN senior reporter, Stephen Grootes gives an update on day two of the World Economic Forum (WEF) in Davos.

'Trade stops wars'

'Trade stops wars'

The Money Show’s Bruce Whitfield interviews EWN’s Stephen Grootes who is in Davos for the 2017 World Economic Forum.

Chinese President: Don't blame globalisation for world's problems

Chinese President: Don't blame globalisation for world's problems

Chinese President Xi Jinping has delivered his speech at 46th World Economic Forum in Davos.

Popular articles
[LISTEN] Biomimicry could be the answer to Cape Town’s water crises

[LISTEN] Biomimicry could be the answer to Cape Town’s water crises

Certified biomimicry professional & founder of Biomimicry SA Claire Janisch chats about how biomimicry can help humans adapt.

Hawks video shows fugitive Ajay Gupta leaving SA

Hawks video shows fugitive Ajay Gupta leaving SA

The Hawks are in possession of video footage showing Gupta, wanted in connection with Vrede dairy farm scandal, leaving SA.

JoJo - struggling to keep up with demand - now has a turnover of R600 million

JoJo - struggling to keep up with demand - now has a turnover of R600 million

The JoJo brand has entrenched itself in the psyche of South Africans. Bruce Whitfield interviews its MD, Grant Neser.

'Today, Zuma declared war on the ANC'

'Today, Zuma declared war on the ANC'

Political analyst Richard Calland says there was a sinister and threatening tone to President Zuma's interview with the SABC.

Hope Ramaphosa: Cyril never lifted a finger to me, he wouldn't beat a woman

Hope Ramaphosa: Cyril never lifted a finger to me, he wouldn't beat a woman

Cyril Ramaphosa's ex-wife says abuse allegations spread by EFF leader Julius Malema are an attempt to tarnish his reputation.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.

Clifton in Cape Town is the 2nd best beach in the world – National Geographic

Clifton in Cape Town is the 2nd best beach in the world – National Geographic

The magazine describes Cape Town as a city flanked by stunning beaches and calls it “The African Capital of Cool”.