TRADE WAR HEATS UP: China Requests WTO Dispute Settlement Consultations with US on Tariffs
China has submitted a revised request for dispute settlement consultations with the United States to address new U.S. tariffs applied on goods originating in China, according to the World Trade Organization. The Trump administration's latest tariff hike has heightened fears of a renewed trade war between the two largest economies. China's revised request comes after an extra 10% duty on Chinese goods took effect Tuesday, adding to the 10% tariff imposed by U.S. President Donald Trump on February 4.
- This development underscores the escalating tensions in global trade, as countries increasingly rely on tariffs as a tool for exerting influence over their trading partners' economic policies.
- Will China's success in securing dispute settlement consultations with the US serve as a precedent for other nations seeking to challenge similar measures taken by Washington against Chinese goods?