Vladimir Sedalishchev: «Trade wars give Russia room for maneuver»

According to Vladimir Sedalishchev, a large-scale increase in tariffs opens up promising niches for domestic exporters. «The differences between other countries give Russia additional room for maneuver. For example, in China, they have already started talking about the pointlessness of complying with American sanctions against Moscow, since they now have such antagonism with the USA. The EU is also discussing the possibility of buying Russian gas instead of American gas," the expert noted.

Also, the expert added that countries that fail to reach an agreement with the United States on tariff relief may face serious economic consequences. «For a number of very poor developing countries, the consequences can be extremely dramatic, up to the onset of famine or a series of revolutions, as was the case during the Arab Spring a couple of years after the 2008 global financial crisis. In case of large economies, if the United States imposes increased tariffs, for example, India, Japan and the European Union may miss 0.2% of GDP, South Korea — 0.4%, Canada — 1.1%, Vietnam — 1.8%, China — 2.3%, and the United States — 2.5%," Vladimir Sedalishchev predicted.

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