China urges WTO to investigate impact of US tariffs on global trade

China has lodged a new complaint with the World Trade Organization (WTO) after condemning US tariffs as "reckless" and warning that they threaten to further destabilize global trade.

In a statement sent to the WTO by the Chinese mission in Geneva, China expressed its deep concern, asserting, "The situation has dangerously escalated. ...As one of the affected members, China expresses grave concern and firm opposition to this reckless move," Caliber.Az reports via foreign media.

On April 9, US President Donald Trump's tariffs on goods from numerous countries came into effect, including a significant 104 per cent duty on Chinese imports, escalating tensions in the ongoing global trade war. Trump has defended the tariffs, stating that they are essential to addressing the US trade deficit with several of its trading partners.

In retaliation, China raised its tariffs on US imports to 84 per cent from 34 per cent. Meanwhile, the European Union is preparing to implement its first set of countermeasures next week, which will primarily consist of 25 per cent duties.

In its statement to the WTO, China reiterated its opposition to trade wars, but also made it clear that it would "firmly defend its legitimate interests." The statement emphasized China's position during a WTO meeting on trade in goods, underscoring that the US actions violate WTO rules and undermine the multilateral trading system.

China urged the WTO Secretariat to assess the impact of these tariffs on global trade and report its findings to WTO members. "Reciprocal tariff is not - and will never be - a cure for trade imbalances. Instead, they will backfire, harming the US itself," the statement read.

The announcement of China's new tariffs contributed to a selloff in global markets, with US stock index futures experiencing a sharp decline.

US Treasury Secretary Scott Bessent responded to China's move, calling it "unfortunate" and a "losing proposition" for Beijing. "I think it's unfortunate that the Chinese actually don't want to come and negotiate, because they are the worst offenders in the international trading system," Bessent said in an interview with Fox Business Network.

Trump's sweeping tariffs have disrupted the global trading order that has been in place for decades, raising concerns about a potential recession and wiping trillions of dollars off the market value of major corporations.

A WTO official confirmed that China's new complaint is an extension of its earlier request for consultations with the US, which was filed on April 4. The consultation phase is the first step in a formal dispute settlement process, and if no resolution is reached within 60 days, China could seek adjudication from the WTO's Dispute Settlement Body.

By Vafa Guliyeva