China criticized the US’ actions of unilateralism and protectionism including so-called reciprocal tariffs and urged the US to abide by WTO rules and work with all parties to promote the sound and stable development of global services trade, at a council meeting at the WTO in Geneva on Friday, the China Media Group (CMG) reported on Saturday.
Through a position paper on WTO members’ common responsibility to strengthen and stabilize global services trade, the Chinese side exposed and criticized the unilateral and protectionist nature of the US’ so-called reciprocal tariffs, and pointed out the negative spillover effects of US restrictive measures on global services trade, according to CMG.
China pointed out that services trade is becoming an important engine driving global trade growth, bringing more opportunities for developing countries to integrate into global value chains. The US “reciprocal tariffs” have triggered global trade turbulence, and their negative impact has spilled over into the services trade sector.
Chinese side emphasized that the US remained the world’s leading trader of services, and has long been the largest surplus country in global services trade. However, the US side intentionally adopts a one-sided and misleading narrative, only talking about “losing” in goods trade while avoiding discussion of “gaining” from services trade, which is typical double standards, according to the Chinese position paper.
Currently, the US unilateral measures are undermining global business confidence, disrupting global supply chains, and seriously infringing upon the legitimate interests of WTO members and the foundation of the multilateral trading system, the paper said, urging all parties should remain vigilant about the US practice.
Chinese side urged the US side earnestly comply with WTO rules, strengthen dialogue and cooperation with all parties, and jointly maintain the prosperity and stability of global services trade.
China is willing to work with all members to continuously deepen the level of opening-up in the services trade sector and contribute more to the sound and stable development of global services trade, the position paper said.
Members such as India, Brazil, Egypt, and Pakistan actively echoed China’s statement, emphasizing that the multilateral trading system provides an important rule-based foundation for the operation of global trade, and an open, inclusive, stable, and non-discriminatory multilateral trade order is crucial for the sustainable development of all countries. according to CMG.
Services are an important component of global supply chains and the future of global trade. All parties should uphold the spirit of consultation and cooperation, ensure the stability and predictability of regulatory policies, and jointly promote the sound and stable development of global trade. GT
