WTO chief hails US-China talks as key step toward trade de-escalation

Director-General of the World Trade Organisation (WTO) Ngozi Okonjo-Iweala has hailed the upcoming trade negotiations between the US and China, set for this weekend, as a positive and constructive step in easing the growing trade tensions between the two global powers.

She sees the talks as a much-needed opportunity to de-escalate the current trade disputes between Washington and Beijing, Caliber.Az reports via Russian media.

"The director-general welcomes the negotiations between the United States and China as a positive and constructive step toward de-escalation," she noted.

Okonjo-Iweala further emphasised the importance of maintaining a sustained dialogue between the two largest economies in the world, noting that such talks are vital for alleviating trade tensions. 

She also highlighted that these discussions are essential not only to prevent a further split along geopolitical lines but also to foster global economic stability and growth. 

Earlier, China’s Foreign Ministry announced that Vice Premier of the State Council He Lifeng will visit Switzerland from May 9 to 12 for discussions with Swiss officials. Additionally, Vice Premier He will hold consultations with US Secretary of the Treasury Scott Bessent on matters related to China-US trade.  

On April 2, US President Donald Trump declared the imposition of tariffs on products from 185 countries and territories, with Russia notably absent from the list. The universal 10 per cent tariffs came into effect on April 5, while individual tariffs were implemented on April 9. Furthermore, starting April 3, the US administration imposed a 25 per cent tariff on all imported vehicles. Trump also declared a national state of emergency in response to the country's economic situation.  

On April 9, President Trump announced a 90-day suspension of additional reciprocal import tariffs on a number of countries and territories, citing ongoing trade negotiations. During this period, a universal tariff of 10 per cent will remain in place. Simultaneously, Trump raised tariffs on Chinese goods to 125 per cent. With the previously imposed 20 per cent tariff on goods from Canada, China, and Mexico due to insufficient efforts in combating fentanyl smuggling into the US, the total tariff on Chinese products now reaches 145 per cent.

By Naila Huseynova