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BumRushDaShow

(151,141 posts)
Wed Apr 9, 2025, 05:42 PM Apr 9

China files new complaint to WTO over Trump tariffs

Source: Reuters

April 9, 2025 1:20 PM EDT Updated 4 hours ago


GENEVA, April 9 (Reuters) - China filed a new complaint with the World Trade Organization on Wednesday after earlier telling the world trade body that U.S. tariffs on Beijing are "reckless" and threaten to further destabilise global trade. "The situation has dangerously escalated. ...As one of the affected members, China expresses grave concern and firm opposition to this reckless move," China said in a statement to the WTO, sent to Reuters by the Chinese mission in Geneva.

U.S. President Donald Trump's tariffs on dozens of countries took effect on Wednesday, including massive 104% duties on Chinese goods, escalating a global trade war. Trump says the tariffs are necessary to end heavy U.S. trade deficits with many of its trading partners, with China having by far the largest trade surplus with the United States. China responded by raising its tariffs on U.S. imports to 84% from 34%, while the European Union will launch its first countermeasures, mostly consisting of 25% duties, next week.

"While China opposes trade wars, it will firmly defend its legitimate interests," it said in a statement to WTO members during a meeting on trade in goods. China on Wednesday accused the U.S. of violating the WTO's rules and said it was undermining the multilateral trading system. It encouraged the WTO Secretariat to study the impact of tariffs on global trade and report its findings to members. "Reciprocal tariff is not - and will never be - a cure for trade imbalances. Instead, they will backfire, harming the U.S. itself," China's statement to the WTO said.

Twenty WTO members also took to the floor during Wednesday's meeting in Geneva, including Switzerland, the EU and Canada, to raise concerns about the impact of soaring tariffs. Some members said U.S. reciprocal tariffs ran contrary to the fundamental principles of the WTO - and could increase costs, disrupt supply chains and harm developed and developing economies alike, a Geneva-based trade official said.

Read more: https://www.reuters.com/markets/asia/china-expresses-grave-concern-wto-about-reckless-trump-tariffs-2025-04-09/

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0rganism

(25,008 posts)
1. Very interesting, I wondered when the WTO would be dragged into this... uh... "situation"
Wed Apr 9, 2025, 06:10 PM
Apr 9

Based on the ETTD principle, I have to wonder if F47 can actually destroy global capitalism. He almost got it last time, and so far this time around, it seems promising, I'd give it even odds.

the nelm

(68 posts)
7. This. and where, of where did they hide the Republican spines?
Wed Apr 9, 2025, 08:35 PM
Apr 9

Tariffs are a power enumerated to Congress per the Constitution, not some addled geriatric trying to get his "retribution" yayas out. This is presidential malpractice (along his party's abject cowardice) of major proportions.

markodochartaigh

(2,697 posts)
6. There are some very strong arguments here,
Wed Apr 9, 2025, 08:19 PM
Apr 9

but I would like to hear from that esteemed economist, Ron Vara, before I make up my mind.


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