From streaming apps to online consultancies, services are the engine of today's global economy – yet they rarely get the spotlight in tariff debates. That changed Friday at the WTO Council for Trade in Services.
At the meeting in Geneva, the Chinese delegation challenged the U.S. policy of "reciprocal tariffs," calling its narrative "one-sided and misleading." By focusing only on goods trade, it said, the United States overlooks a service trade surplus of nearly $300 billion in 2024 alone.
Service sectors like research and development, design, branding, and digital platforms often drive higher returns than surface trade data suggests. For entrepreneurs, digital nomads, and startups around the world, these high-value activities underpin everything from cloud computing to e-learning.
The Chinese delegation urged the United States to adhere to WTO rules without double standards, stressing that developing members should also reap the benefits of an open multilateral system. "No single player should set its own rules," they said.
While Beijing welcomes bilateral talks to ease trade frictions, it stressed that any agreement must respect non-discrimination and protect third-party interests. "Consultations are key," the delegation noted, "but they must stay within the WTO framework."
Beyond immediate disputes, China highlighted the need to accelerate WTO reform to build a more open, stable, and predictable trading system. A stronger WTO, it argued, would boost resilience in global supply chains and support sustainable growth.
The call resonated across the WTO membership. The European Union, Australia, and Canada, along with Brazil and Pakistan, welcomed the emphasis on service trade as a path to future economic stability. Members agreed that cooperation, not unilateral measures, is vital for healthy global trade growth.
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China criticizes U.S. tariff narrative as 'one-sided, misleading'
cgtn.com
