China to WTO head: 'US tariffs will inflict serious harm on developing countries'
China's Commerce Minister Wang Wentao told the head of the World Trade Organization that U.S. tariffs will "inflict serious harm" on poor nations, according to a ministry statement released Saturday.
China's Commerce Minister Wang Wentao told the head of the World Trade Organization that U.S. tariffs will "inflict serious harm" on poor nations, according to a ministry statement released Saturday.
"These US 'reciprocal tariffs' will inflict serious harm on developing countries, especially the least developed countries, and could even trigger a humanitarian crisis," Mr. Wang told WTO chief Ngozi Okonjo-Iweala in a call on Friday, the statement said.
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"The United States has continuously introduced tariff measures, bringing enormous uncertainty and instability to the world, causing chaos both internationally and domestically within the U.S.," Mr. Wang added.
Beijing said Friday that its 125% tariffs on U.S. goods would take effect on Saturday — almost matching the staggering 145 percent levies imposed by Washington on Chinese goods entering the United States. Read More |China shares old video of Mao Zedong amid tariff war with US, says "Chinese not afraid of provocations" But China indicated that it would ignore any further levies by U.S. President Donald Trump because, Beijing said, it no longer makes economic sense for importers to buy from America. China also said it would file a lawsuit with the WTO over the latest round of levies. Read More | Trump REVEALS why he put a 90-day pause on tariffs: 'People were getting yippie' After a week of market mayhem as the world's two largest economies took turns to put up trade barriers, Beijing dismissed Mr. Trump's mounting brinkmanship as a "joke" and a "numbers game". Beijing's retaliation sparked fresh market volatility, with stocks seesawing, gold prices surging and US government bonds under pressure. Watch |Pentagon flags "China threat" at Panama Canal, Beijing fires back Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.