The United States has long called for China to stop pursuing the preferential status granted to developing nations in World Trade Organization agreements. Officials from the Commerce Ministry stated on Wednesday that the action aimed to strengthen the international trade system, which is being threatened by protectionist policies and tariff battles among individual nations aimed at limiting imports.
Neither the United States nor President Donald Trump’s tariffs on China and numerous other nations were explicitly mentioned. Since China has the second-largest economy in the world, the US has long maintained that it should no longer be classified as a developing nation. The benefits of its status at the World Trade Organization.
In a post on X, the director of the Geneva-based organisation praised and congratulated the Chinese officials, calling the action a “major news key to WTO reform.” The WTO director-general, Ngozi Okonjo-Iweala, remarked, “This is the result of years of hard work.”
In an address to a development conference organized by China during the UN General Assembly’s annual meeting in New York on Tuesday, Chinese Premier Li Qiang made the announcement. After the United States stopped appointing adjudicators to the WTO’s Appellate Body, which is considered the highest court for international trade, in 2019, the trade organization is notably reevaluating how it resolves disputes.
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