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US Urged to Halt Further Tariff Hikes on Chinese Goods, Abide by WTO Rules

by Nigeria Today
May 16, 2024
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The United States of America has been urged to earnestly abide by World Trade Organization (WTO) rules and immediately stop further increasing additional tariffs on some Chinese goods.

The call was made by a spokesperson from the China Council for the Promotion of International Trade in a statement on Wednesday.

The spokesperson’s remarks come after the US decision on Tuesday to raise additional tariffs on a range of Chinese product imports, including electric vehicles, lithium-ion batteries, solar cells, critical minerals, semiconductors, steel, aluminium, and cranes. These new tariffs are on top of the existing Section 301 tariffs already imposed by the US.

The spokesperson emphasized the importance of the US upholding its WTO commitments, stating that further escalation of trade tensions through unilateral tariff hikes would be detrimental to the global economic recovery. They urged Washington to work constructively with Beijing to resolve trade disputes through dialogue and negotiation in accordance with WTO rules and principles.

The latest tariff actions by the US are seen as an effort to maintain pressure on China amid ongoing strategic competition between the two economic superpowers. However, analysts warn that such unilateral measures could backfire, disrupting supply chains and hurting American consumers and businesses.

As the world’s two largest economies, China and the US play a vital role in sustaining global trade and economic stability. Calls are growing for both sides to exercise restraint, prioritize cooperation, and find mutually acceptable solutions through diplomatic means.

Tags: Chinese GoodsUSWTO Rules

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