WTO warns of consequences of rising trade tensions
Beijing, April 12 (Hibya) – World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala said in a meeting with Chinese Commerce Minister Wang Wentao that ongoing trade tensions pose tremendous challenges to global trade and economic growth prospects.
The meeting took place Friday via video conference, during which the parties discussed how to respond to the United States’ “reciprocal” tariffs, safeguarding the multilateral trading system, and ensuring the full implementation of the WTO's role.
Okonjo-Iweala stated, “The continued escalation of trade tensions has created tremendous challenges for global trade and economic growth prospects.”
The Director-General emphasized, “WTO members must work together to support an open and rules-based multilateral trading system and resolve differences appropriately through dialogue and cooperation within the WTO.”
“The outcomes of consultations between all parties and the United States must be consistent with the WTO’s most-favored-nation principle,” she added.
Albania News Agency
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