Erdogan said the world trade war is intensifying

The trade war in the world will increase, Turkey is calculating the risks and taking appropriate steps. Turkish President Recep Tayyip Erdoğan said this on Feb. 4 during a meeting to promote the national employment strategy.

"Today, the international system is going through a painful period. The geopolitical struggle is not going on as it used to. We are following the latest debate," RIA Novosti quoted him as saying.

Erdogan said that at the moment Turkey is reviewing its economic and trade strategy, as well as defining long-term goals.

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On the same day, a 10 percent duty rate for all goods from the People's Republic of China came into effect in the United States. The imposition of 25 percent duties on Mexico and Canada was suspended after both countries announced retaliatory steps.

Prior to that, on February 1, US President Donald Trump signed an executive order imposing trade tariffs of 25 percent on goods from Canada, China and Mexico. Then he also promised to introduce duties on goods from the EU. With this decision, the American leader seeks to reduce the flow of the opioid fentanyl across the border, as well as the flow of migrants.

Chinese economist Andrew Leung, in turn, told Izvestia that the tariffs imposed by Trump on imports of goods from China and Mexico will lead to an increase in consumer prices in the United States itself.