Chinese Trade Minister Wang Wentao has warned that the United States’ ongoing tariff measures could inflict significant damage on developing nations, potentially triggering a humanitarian crisis.
In a video call with Ngozi Okonjo-Iweala, the Director-General of the World Trade Organization (WTO), Wang said that the continued introduction of tariffs by the US poses severe risks to the global economy, particularly affecting the least developed countries (LDCs). He argued that these nations stand to face the worst consequences from such protectionist measures.
Wang emphasised China’s determination to take “decisive countermeasures” to protect its legitimate rights and interests, while upholding fairness and justice within the international community. He also reiterated China’s stance against unilateralism and protectionism, calling on WTO members to come together in promoting open cooperation and multilateralism.
During a separate call with Brazil’s Minister of Development, Industry, Foreign Trade, and Services, Geraldo Alckmin, Wang discussed strengthening economic and trade ties between China and Brazil in light of the tariffs imposed by the US. Both sides explored ways to mitigate the effects of these tariffs and enhance their collaboration to ensure mutual benefit.
China’s concerns over the US tariff policies have grown amidst rising global economic tensions, with the trade war between the two superpowers showing no signs of abating. The US tariffs have affected a wide range of industries and goods, and China’s calls for multilateral cooperation reflect a desire to maintain global economic stability amid escalating trade disputes.
As the trade landscape shifts, China is determined to leverage its position and resources to counter the adverse effects of protectionism and strengthen international partnerships.–BLOOMBERG
