Trade Talks: China Champions Multilateralism at WTO Council
China emphasizes the importance of multilateralism in navigating global trade challenges at a WTO meeting. Despite bilateral talks with the U.S., China advocates for a collaborative approach. Recent agreements have reduced imposed tariffs, and member countries are urged to adhere to WTO rules and stabilize trade relationships.
In a pivotal session at the World Trade Organization (WTO), China emphasized that multilateralism remains crucial to resolving the current global trade turmoil. While bilateral negotiations play a role, Beijing believes that multilateral approaches offer the ultimate solution to address these challenges.
Recent discussions between China and the United States have led to a trade truce, with both nations agreeing to cut down their imposed tariffs, hoping to ease commercial tensions. China further called on WTO members to stabilize and reinforce trade measures as per international rules.
The United States highlighted significant imbalances and systemic issues within the current WTO framework, stressing the need for urgent reform. Meanwhile, a consensus among 47 WTO members reaffirmed their commitment to a rules-based, stable trade order.
(With inputs from agencies.)
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