Chinese representative: U.S. narrative of "reciprocal tariffs" is one-sidedly misleading and neglects service trade surplus
According to online reports, the World Trade Organization held the second annual meeting of the Council for Trade in Services in Geneva, Switzerland on the 13th. China points out the misleading narrative and erroneous logic of the United States '"reciprocal tariffs" and demands that the United States effectively abide by WTO rules, resolve differences through multilateral cooperation rather than unilateral measures, and work with all parties to maintain the stability of the global trading system. The Chinese representative pointed out that the United States is the world's largest service trade surplus and has maintained a service trade surplus with its major trading partners for a long time, with a surplus of nearly US$300 billion in 2024. Not only that, the United States has achieved benefits in international trade and economic globalization far higher than those shown in trade data by deeply participating in the research and development, design, sales and other links with the highest added value in the global value chain. In addition, the United States only talks about "losses" in trade in goods and avoids talking about "profits" in trade in services. This is obviously one-sided and misleading. The United States cannot adopt double standards and "apply rules if they are consistent, and discard them if they are not consistent." It cannot only allow itself to make profits and not allow other members, especially developing members, to make profits. (Xinhua Agency)
Disclaimer: The views in this article are from the original Creator and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.