China condemns US 'tariff shocks' at WTO

The sweeping tariffs threatened or already imposed by US President Donald Trump risk triggering inflation, market distortions, and even a global recession, China said Tuesday at the World Trade Organization.

News ID: 2000857

EghtesadOnline: After returning to office on January 20, Trump hit China, the world's second-biggest economy, with an additional 10 percent levy on products entering the United States.

Trump signed executive orders last week imposing new 25 percent tariffs on steel and aluminum, due to come into effect on March 12.

And he said Tuesday that US tariffs on imported cars would be around 25 percent, providing new information on duties he is expected to unveil around April 2.

"The world faces a series of tariff shocks," said Li Chenggang, China's ambassador to the WTO, at the first meeting of the year of the global trade body's decision-making General Council, AFP reported.

"The US has imposed or threatened tariffs on its trading partners, including China, unilaterally and arbitrarily, blatantly violating WTO rules. China firmly opposes such measures.

"These tariff shocks heighten economic uncertainty, disrupt global trade, and risk domestic inflation, market distortion, or even global recession."

Li went on to say that US unilateralism threatened to upend the rules-based multilateral trading system. / Mehr