The World Trade Organization (WTO) described recent discussions on escalating trade tensions between the United States and China as \"constructive.\" This statement follows China’s strong condemnation of the U.S. administration's implementation of \"tariff shocks,\" which China warns could disrupt the global trading system.
At a pivotal WTO meeting in Geneva, China criticized the sweeping 10% tariffs imposed by the U.S. on all Chinese imports. In retaliation, Beijing announced additional tariffs and initiated a WTO dispute against Washington, setting the stage for a significant test of the U.S.'s commitment to the organization.
Speakers from six nations—Malaysia, Namibia, Nicaragua, Russia, Trinidad and Tobago, and the U.S.—participated in the talks. According to WTO spokesperson Ismaila Dieng, the majority expressed concerns over the rising tensions but emphasized the need for restraint to maintain global trade stability.
China’s ambassador to the WTO, Li Chenggang, highlighted that these \"tariff shocks\" not only increase economic uncertainty but also pose risks of domestic inflation and potential global recession. He warned that the U.S.'s unilateral actions could undermine the rules-based multilateral trading system that the WTO upholds.
In response, U.S. envoy David Bisbee labeled China's economy as a \"predatory non-market economic system,\" accusing it of violating WTO regulations. While the Trump administration has signaled intentions to withdraw from other international bodies, the WTO has not been a primary focus. However, incoming U.S. Trade Representative Jamieson Greer has recently described the WTO as \"deeply flawed,\" hinting at potential future challenges for the organization.
These developments mark the first formal addressing of mounting trade frictions at the WTO's top decision-making body, the General Council, underscoring the significance of preserving the organization's role in global trade governance.
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'Constructive' WTO talks after China condemns Trump's 'tariff shocks'
cgtn.com
