Russia’s Deputy Prime Minister Maxim Akimov said on Friday that the ongoing U.S.-China trade war entail risks for the Russian economy, as it will affect the global economy, ANI news agency reports.
“The U.S.-China trade war will affect the global economic growth rate, and we greatly depend on it, because if the Chinese economy slows down, the demand for hydrocarbons and other commodities will also slow down. This will hit Russian exports,” Akimov was quoted as saying, Russia Business Today informs.
Akimov also said that the recent Huawei row is part of the technological war that is going alongside trade war between Washington and China.
He also expressed his belief that technological warfare might lead to “technological fragmentation of the world.”
The months-long trade negotiations between China and the U.S. broke down recently after the U.S. increased tariffs on Chinese goods amounting to over $200 billion. In retaliation, China said that it would be increasing duties on $60 billion-worth of U.S. imports from June 1.
The U.S. Commerce Department also formally added Huawei to the list of companies the U.S. government considers to be undermining American interests. By adding Huawei to the so-called Entity List, the Trump administration ensures Huawei will be covered by the new executive order.
The United States has publicly asked its allies many times to steer clear of using Huawei products over concerns that the equipment could be used by the Chinese government to obtain private information.