Chile is well prepared for commercial warfare, but it is not immune

Chile is not immune to the trade war between the United States and China, but is ready to face its effects, which are limited until 39. Now, Finance Minister Felipe Larraín said Thursday. He explained that the government will closely follow the evolution of the dispute between the world's major economies and called for calm in the productive sectors of the country.

"Our duty as economic authorities (…) is to prepare less favorable scenarios, expect the best to come out, but prepare for what could be worse than expected or the effects of a very uncertain trade war, "Larrain told reporters

" The projections we have today (..). As for the effects that this has on the They are limited, "he added.

Regarding the optimistic estimate of the price of copper – the largest export c hilena – the government has recently done, the official explained that there will be new opportunities to consider these forecasts.

Larraín explained that as part of plans to deal with possible adverse trade impacts, Chile will seek to explore new markets – such as Central Asia – and increase the presence in others to which you already have access

The authority pointed out that the trade war is not good news, but, as this scenario involves risks, it could also present opportunities, which are badessed by the authorities of the Government is well prepared to deal with a situation like this, since we have the largest network of free trade agreements with 64 countries in the world, giving Chile the opportunity to protect itself against an increase restrictions. trade, as happens in some of the world's leading economies, "said the minister, who said that one of it aims to deepen Chile's international integration and explore new markets, such as , for example, Central Asia. "It is time to seek diversification and deepen our ties with the countries and regions with which we have treaties," said the minister.

Appeal to fiscal responsibility

The Minister of Finance pointed out that fiscal responsibility is even more important because it is one of the ways for the country to prepare properly.

"My message is responsibility, but also tranquility. The government is looking for ways to reverse, in the best possible way, the possible collisions that the trade war as a country can mean, since we are well prepared, but we are not immune, said the minister

There has been an escalation of protectionist measures and there are two scenarios: "The one that could be supportive, where rationality ultimately prevails and open markets, but we also need to prepare for scenarios alternatives that are not so good. We will have a precise and coordinated follow-up of this issue by the members of President Piñera's economic team, "he said.