ASEAN, EU close ranks in face of trade war threat
2018-08-05 23:04:22 / Myanmar Wood
Southeast Asia and Europe stressed the importance of pushing back against protectionism and the threat of global trade wars Friday, as their ministers work towards the eventual goal of a region-to-region free trade pact.
The US is embroiled in trade spats with China and close allies including the European Union, imposing tit-for-tat tariffs on billions of dollars worth of goods and heightening fears of economic pain that could spread worldwide.
At a meeting in Singapore, EU foreign policy chief Federica Mogherini assured her Southeast Asian counterparts that they could count on Europe as a free trade partner.
"We stand on the side of a free and fair trade that benefits all, instead of damaging trade wars," she told reporters at the Association of Southeast Asian Nations (ASEAN) forum.
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Source From: mizzima
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