In a bold rebuke of US trade measures, China has slammed the US for abusing tariff powers, framing the move as a threat to global economic stability.
Speaking at the 51st meeting of the International Monetary and Financial Committee in Washington D.C., Pan Gongsheng, governor of the People's Bank of China, warned that the US's indiscriminate tariff policies have severely undermined the long-term stability and growth of the global economy. He noted that these measures have triggered significant volatility in global financial markets, threatened overall financial stability, and created daunting challenges for emerging markets and developing countries.
The comments reflect growing frustration in Beijing over what officials see as unilateral actions that run counter to free trade principles and multilateral cooperation. With many economies still recovering from recent shocks, tariff disputes risk derailing progress and weakening investor confidence.
In response, China reaffirmed its commitment to expanding market access, supporting free trade, and upholding multilateralism. Beijing pledged fresh initiatives to broaden openings across key sectors, enhance regulatory transparency, and work with global partners to reinforce institutions like the World Trade Organization.
As tensions simmer, all eyes are on whether these competing trade strategies will tip the balance toward protectionism or strengthen the case for open markets in an interconnected world.
Reference(s):
cgtn.com
