GENEVA, May 22 (Xinhua) -- The European Union (EU) and other members of the World Trade Organization (WTO) have spoken out against the U.S. tariffs in Geneva, calling for collective efforts to strengthen the multilateral trading system.
On Wednesday, the EU delegation launched an agenda on the fragmentation of global trade caused by tariffs at a meeting of the General Council, the WTO's highest-level decision-making body. The delegation asserted that all WTO members are severely affected by the U.S. tariffs and some non-transparent U.S. policies, which are "generating enormous uncertainty in the system and economic costs across the globe, reinforcing the fragmentation of global trade."
The EU delegation said the U.S. approach of addressing macroeconomic imbalances within its territory through microeconomic trade tools like tariffs is the wrong solution.
On the same day, Singapore and Switzerland initiated another agenda on behalf of dozens of WTO members to discuss how to support the rules-based multilateral trading system.
They said in a statement that since its establishment in 1995, the WTO has played an important role in providing a predictable, transparent, non-discriminatory, and open global trading system. They called for strengthened solidarity and cooperation, bold and collective action, and profound WTO reforms to effectively respond to the challenges facing global trade.
China stated that the U.S. "reciprocal tariffs" have severely undermined the multilateral trading system, impacted the global economy, and harmed the interests of developing countries. China called for actions to effectively address the impact of unilateralism and protectionism through upholding and strengthening the WTO's core values and fundamental principles.
Meanwhile, WTO members should work together to advance the restructuring of global trade, rebuild disrupted industrial and supply chains through openness and cooperation, and reduce trade barriers in a spirit of mutual respect and win-win cooperation, China stated.
China supports enhancing transparency in trade policies and advancing WTO reform, stressing that any bilateral arrangements must comply with WTO rules and principles and not undermine the interests of other members.
During the Wednesday meeting, about ten representatives, including those from the United Kingdom, Canada, Australia, Japan and Brazil, voiced criticism of the U.S. tariff measures on behalf of over 100 WTO members.
WTO Director-General Ngozi Okonjo-Iweala called on the United States to engage in constructive dialogue with the parties concerned.
(Editor: wangsu )