New york: Chinese Minister of Commerce Wang Wentao has accused the United States of delivering a "serious blow" to the multilateral trading system. During his meeting with Rebecca Grynspan, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), on the sidelines of the UN General Assembly meetings, Wang emphasized the negative impact of US trade policies.

According to Yemen News Agency, the Chinese minister highlighted that the unilateral increase in tariffs by the United States has significantly affected the multilateral trading system. Wang urged all parties to adhere to multilateralism and free trade, emphasizing the importance of protecting the foundational principles of the multilateral trading system to ensure greater stability and certainty in the global economy.

Trade tensions between China and the United States have been escalating, marked by a trade war that began with US President Donald Trump's decision to impose a 10% tariff on all Chinese imports in February. This tariff was subsequently increased to 20% in March. In response, Beijing imposed tariffs on US agricultural imports, further straining relations between the two economic giants.

The situation worsened when Washington implemented "reciprocal" tariffs, raising tariffs on Chinese goods to 54%, which have now reached 145%. In retaliation, Chinese tariffs on US exports have also climbed to 125%, highlighting the ongoing trade conflict between the two nations.