China: U.S. Tariffs Deal Serious Blow to Free Trade System
According to the English section of webangah News Agency, citing Mehr News Agency via Al Mayadeen, wang Wentao, China’s Minister of Commerce, called the unilateral increase in U.S. tariffs a “serious blow” to the multilateral trading system.
Speaking with Rebeca grynspan, Secretary-General of UNCTAD, on the sidelines of the United nations General Assembly meetings in New York, Wang emphasized that all parties must “firmly uphold liberalism and free trade and protect the fundamental principles of the liberal trading system” to help bring greater stability and confidence to the global economy.
The relationship between China and the United States has been marked by a trade war in recent months. In February, former U.S. President Donald Trump imposed 10 percent tariffs on all Chinese imports, raising them to 20 percent in March. Beijing responded with tariffs on agricultural imports from the U.S.
The crisis escalated through reciprocal tariffs between Washington and Beijing until U.S. duties on Chinese goods reached 145 percent and Chinese tariffs on American products hit 125 percent. however, in August, Trump signed an executive order extending a suspension on these high tariffs for another 90 days.
In September, Trump called on NATO member countries to impose customs duties ranging from 50 to 100 percent on Chinese goods. He described this move as having a “key role in ending the war in Ukraine.”
