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The world is facing a new cold trade war caused by US-Chinese tensions, that could be avoided by reforming the WTO, said French Finance Minister Bruno Le Maire.

“The real risk now is that we enter into a cold war between China and the United States in which all countries, including Europe, come out losing,” Le Maire said.

“This open war in trade will be an economic suicide for the whole world. It (the trade war) is quite simply stupid,” Reuters reported quoting Maire. 

According to him, WTO needed to get out of “paralysis of the consensus.”

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