China expressed serious concerns about America's 'mutual tariff' in the WTO

Beijing, April 10 (IANS). The World Trade Organization (WTO) held the first annual meeting of the Council for Goods Trade in Geneva, Switzerland. China, with the initiation of the agenda, expressed serious concerns about the US ‘mutual tariff’ measures and their adverse effects and demanded the US to follow the WTO rules concrete, so that the global economy and the multilateral trading system could avoid negative consequences. China’s speech has created a sharp reaction among all sides. 46 WTO members, including the European Union, Britain, Canada, Japan, Switzerland, Norway, South Korea, Malaysia, Brazil, Peru, Kazakhstan and Chaad, talked under this agenda and called on the US to follow the WTO rules, with their concerns. China said the US ‘mutual tariff’ rate is much higher than the tariff level committed in the WTO. One-Theater and arbitrary case of discriminatory rates is a serious violation of the fundamental principle of the World Trade Organization’s most despicable nation-treatment and is a special act of one-sidedness, protectionism and bullying. China also said that the SO calls are ‘mutual rates’ ‘wrong recipe and wrong medicine’. Not only will it help solve the problem of imbalance in trading, but it will adversely affect the United States and the international trading system will be severely disrupted. There is no winner in tariff wars and business wars. China calls on all WTO members to follow the multilateral trading rules, solving differences by taking multilateral discussions and cooperation and lessons from history. During the meeting, the European Union said that the ‘mutual tariff’ measures of the US severely damaged the basic principles of the World Trade Organization, which does not solve the problem of imbalance in the trade. At the same time, members, including Britain, Canada, Japan and South Korea, have criticized the US ‘mutual tariff’ to disrupt the international trading system and destroy the stable operation of the global industrial chain and supply chain, saying that it will damage the interests of producers and consumers in different countries, including the United States. On the other hand, members such as Peru, Kazakhstan and Chad condemn America’s ‘mutual tariff’ as it has a serious influence on economically weaker members, especially the least developed countries. He emphasized the importance of maintaining fair, open, transparent, inclusive and non-discriminatory multilateral trade rules for developing members. (Sincer- China Media Group, Beijing) -ians ABM/