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Easing of US-China trade tensions is a big relief for other trading nations, including India: FICCI

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The encouraging signals from the US and Chinese Xi Jinping's meeting in have already initiated the process that, in all probability, will succeed in defusing the impending global trade war which threatened to impact world trade in a major way.

The escalating tensions between the two major trading nations in the world has been a cause of deepening concern in terms of its adverse impact on the financial markets across the world and also the economy.

"The very fact that no additional tariffs will be imposed by the US and both the two sides will engage in negotiations, is a big relief for other trading nations, including Also, with the nations agreeing for the required reforms in the multilateral trading platform, WTO; India's role in this exercise will be critical in bringing together all the countries to the discussion table for finding a workable solution," said Mr Rashesh Shah, President, "As the country will now be hosting the summit in 2022, it can play an important role in helping the positive results of the meeting deliver concrete results, going ahead," he added.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 03 2018. 16:33 IST