The ongoing trade conflict between Washington and Beijing may escalate into a full-fledged commercial cold war, French Finance Minister Bruno Le Maire warned during a World Trade Organization (WTO) conference.
Speaking in Paris during an opening ceremony of a meeting on the future of the WTO, Le Maire branded the decision of US President Donald Trump to impose tariffs on Chinese goods as “stupid” and said European nations will not be collateral victims of the conflict.
The French official called on the international trade arbiter to overcome a “ consensus paralysis” that pesters its decision-making process and suggested the WTO should make fighting global climate change part of its agenda. He also said a more just taxation system is needed to make competition between countries fairer.
