The Chilean government seeks to boost economic growth despite friction between the United States and China

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Last updated on 22/07/2018 – 11:14

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SANTIAGO, July 20 (Xinhua) – The Chilean Minister of Finance, Felipe Larraín, He said today that his government is working to strengthen the country's economic growth in the face of trade frictions facing the United States and China.

"We want Chile to be more resilient to the circumstances we face abroad, we can do it well," Larrain told a press conference

Economic Cabinet met Friday at La Moneda Palace to discuss various business strategies in front of a complicated international panorama

. The finance minister pointed out that they are evaluating "the possibility of expanding our network of free trade agreements and deepening some existing agreements to diversify markets", in order expand the network of 26 trade agreements with 64 economies that Chile currently maintains.

"We have a solid economic situation," said Larraín, who also stressed the adoption of fiscal and growth measures "through a series of projects and initiatives of the finance ministries, the Ministry of Finance, the Ministry of Finance, the Ministry of Finance and the Ministry of Finance. economy, labor, public works, mining and agriculture. "

He noted that Chile should be" very attentive to the announcements of US President Donald Trump. "I imagine that 39, none of the countries behind this is a trade war, today the weight of the evidence is in them, in that they manage to sit down at the table and that 's right. a more complex process is not unleashed. "

Larraín celebrated in his speech the slight rise that the copper obtained today, which closed It also recalled that the Ministry of Finance has updated the previous week the local macroeconomic projections, with the increase of the product i gross domestic product (GDP) of $ 2.75 per pound after eight days of losses affecting the main Chilean export product.

Estimated for this year from 3.5 to 3.8%

Contrary to what the government said, the President of the Confederation of Production and Trade (CPC), Alfonso Swett, said this Friday Chile will be the most affected country in the region due to trade friction between China and the United States.

"Chile loses a lot, it is very bad news for the country, for three main reasons.It is a country of copper, it is the main exports, it is a country which has two main trading partners (China and the US) and Chile has chosen a model for opening up economic development, "said Swett in an interview to the local electronic portal" Emol. "[19659005] The entrepreneur predicted a GDP growth of 1.8% in the country, so the commercial offensive between the two world powers will last until the end of the month of August, which would lead, according to him, to "a very strong loss of growth in Chile" and "a very significant impact".

The United States launched July 6, the largest economic-history offensive to impose additional duties of 25% on Chinese products from sectors such as aerospace, computer technology and auto parts, worth $ 34 billion.

In response, China announced that it would apply additional duties to certain imports from the United States for the same value, including agricultural products, vehicles and aquatic products.

United counterattacked after reporting a price list for Chinese products worth $ 200 billion.

To date, the markets that have reacted with tariff retaliation against products of US origin are China, the European Union, India, Russia, Turkey, Canada and Mexico, as indicated by the Chilean government.

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