The World Trade Organization (WTO) announced on Wednesday that the recent discussions surrounding trade tensions between the United States and the Chinese mainland are \"constructive.\" This statement follows China's condemnation of the U.S. implementation of what it termed \"tariff shocks,\" which Beijing argues could disrupt the global trading system.
During a WTO meeting in Geneva on Tuesday, China criticized the tariffs launched or threatened by U.S. President Donald Trump. In response to Trump's sweeping 10 percent tariffs on all Chinese imports, Beijing imposed its own tariffs and filed a WTO dispute against Washington, marking an early test of Trump's approach towards the international trade body.
The WTO's spokesperson, Ismaila Dieng, stated in a press conference that the majority of the six countries participating in the talks—Malaysia, Namibia, Nicaragua, Russia, Trinidad and Tobago, and the U.S.—expressed concern over the escalating tensions but also emphasized the need for restraint. \"The large majority stressed the importance of upholding WTO principles and values and called for action to preserve the stability and effectiveness of the global trading system,\" Dieng added.
This marks the first instance where rising trade frictions have been formally included in the agenda of the WTO's top decision-making body, the General Council.
China's ambassador to the WTO, Li Chenggang, voiced concerns about the economic uncertainty caused by the tariffs, stating, \"These 'tariff shocks' heighten economic uncertainty, disrupt global trade, and risk domestic inflation, market distortion, or even global recession.\" He further remarked that \"U.S. unilateralism threatens to upend the rules-based multilateral trading system.\"
In response, U.S. envoy David Bisbee described China's economy as a \"predatory non-market economic system\" and accused it of violating WTO rules.
The Trump administration has indicated plans to withdraw from or disengage with other global organizations. While the WTO has not been a primary focus for the White House thus far, incoming U.S. Trade Representative Jamieson Greer has labeled the WTO as \"deeply flawed.\"
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'Constructive' WTO talks after China condemns Trump's 'tariff shocks'
cgtn.com
