China Advocates Multilateralism Amidst U.S. Trade Tensions
During a WTO meeting, China emphasized the importance of multilateralism to resolve global trade issues, countering recent U.S. tariffs. Both nations have agreed to reduce tariffs while calling for reform in global trade systems. China insists on global cooperation to stabilize international economic relations.
In a pivotal statement at the World Trade Organization's General Council in Geneva, China underscored the essential role of multilateralism in overcoming global trade challenges. The Chinese delegation argued that while bilateral talks may yield temporary results, multilateral approaches are the ultimate solution to worldwide commercial issues.
The dialogue follows recent surges in tariffs spearheaded by U.S. President Donald Trump, which strained global economic relations. To temper these tensions, China and the U.S. have agreed to a trade truce, reducing their respective tariffs to more manageable levels. This development signals a recommitment to balanced trade discussions.
Furthermore, China urged WTO members to adhere to a rules-based international trade framework. In response, the U.S. highlighted the necessity to resolve extensive trade imbalances and reform the current WTO system, pushing for an overhaul of policies perceived as market-disruptive. Meanwhile, 47 WTO members expressed support for maintaining a multilateral trading system led by established rules.
(With inputs from agencies.)
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