G20 Photo:VCG

The Group of 20 (G20) held its Development Working Group meeting from Monday to Wednesday in Western Cape Province, South Africa. During the meeting, China expressed its position on the US proposal for "reciprocal tariffs." Multiple parties called for jointly safeguarding the multilateral trading system and opposing unilateralism and trade protectionism, the Ministry of Commerce (MOFCOM) said on Thursday.

Chinese representatives emphasized that international trade is a key driver of global development. They stated that the US government's recent push for "reciprocal tariffs" has seriously undermined the international trading system, disrupted global industrial and supply chains, and dealt a lasting blow to the world economy. 

Such actions, they argued, effectively strip Global South countries of their right to development and represent a typical display of unilateralism, protectionism, and economic coercion, according to the ministry.

The Chinese side emphasized at the meeting that the G20, as the primary forum for international economic cooperation, has a responsibility to address major issues in global economic governance and jointly tackle global challenges. 

G20 members should uphold the right direction of globalization, strengthen solidarity, refrain from using trade-restrictive measures, oppose protectionism, and work together to safeguard a rules-based multilateral trading system.

On the sidelines of the meeting, representatives from China held extensive exchanges with South Africa, which holds the G20 presidency, and other G20 members, regarding the US proposal for "reciprocal tariffs." 

China called for enhanced cooperation among all parties to resolve trade disputes through consultations based on equality, mutual respect, and mutual benefit. 

Representatives from China urged joint efforts to address urgent challenges in international economic and trade relations and to create favorable conditions for achieving the Sustainable Development Goals, according to the ministry.

The ministry noted that several G20 members expressed serious concern over the severe impact of the US "reciprocal tariffs" on the multilateral trading system. 

They stressed the importance of upholding a rules-based multilateral trading system, strengthening coordination of positions, and working together to manage current global trade tensions.

According to MOFCOM, the meeting also featured in-depth discussions on key development issues, including global public goods, development financing and illicit financial flows, and minimum social protection standards. 

Consultations on outcome documents were launched to prepare deliverables for the G20 Development Ministerial Meeting in July.

Global Times