<\/p>\n
China’s Commerce Minister Wang Wentao told the head of the World Trade Organization that US tariffs will “inflict serious harm” on poor nations, according to a ministry statement released Saturday.<\/p>\n
“These US ‘reciprocal tariffs’ will inflict serious harm on developing countries, especially the least developed countries, and could even trigger a humanitarian crisis,” Wang told WTO chief Ngozi Okonjo-Iweala in a call on Friday, the statement said.<\/p>\n
“The United States has continuously introduced tariff measures, bringing enormous uncertainty and instability to the world, causing chaos both internationally and domestically within the US,” Wang added.<\/p>\n
Beijing said Friday that its 125 percent tariffs on US goods would take effect on Saturday — almost matching the staggering 145 percent levies imposed by Washington on Chinese goods entering the United States.<\/p>\n
<\/p>\n
But China indicated that it would ignore any further levies by US President Donald Trump because, Beijing said, it no longer makes economic sense for importers to buy from America.<\/p>\n
China also said it would file a lawsuit with the WTO over the latest round of levies.<\/p>\n
After a week of market mayhem as the world’s two largest economies took turns to put up trade barriers, Beijing dismissed Trump’s mounting brinkmanship as a “joke” and a “numbers game”.<\/p>\n
Beijing’s retaliation sparked fresh market volatility, with stocks seesawing, gold prices surging and US government bonds under pressure.<\/p>\n
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)<\/i><\/p>\n
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Beijing: China’s Commerce Minister Wang Wentao told the head of the World Trade Organization that US 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,” Wang […]<\/p>\n","protected":false},"author":1,"featured_media":2678,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[19],"tags":[],"class_list":{"0":"post-2677","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world-news"},"_links":{"self":[{"href":"https:\/\/gunnewsusa.com\/index.php\/wp-json\/wp\/v2\/posts\/2677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gunnewsusa.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gunnewsusa.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gunnewsusa.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gunnewsusa.com\/index.php\/wp-json\/wp\/v2\/comments?post=2677"}],"version-history":[{"count":1,"href":"https:\/\/gunnewsusa.com\/index.php\/wp-json\/wp\/v2\/posts\/2677\/revisions"}],"predecessor-version":[{"id":2679,"href":"https:\/\/gunnewsusa.com\/index.php\/wp-json\/wp\/v2\/posts\/2677\/revisions\/2679"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gunnewsusa.com\/index.php\/wp-json\/wp\/v2\/media\/2678"}],"wp:attachment":[{"href":"https:\/\/gunnewsusa.com\/index.php\/wp-json\/wp\/v2\/media?parent=2677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gunnewsusa.com\/index.php\/wp-json\/wp\/v2\/categories?post=2677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gunnewsusa.com\/index.php\/wp-json\/wp\/v2\/tags?post=2677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}