China condemns Trump’s ‘tariff shocks’ at WTO, warns of possible recession

News Snapshot:

China condemned tariffs launched or threatened by U.S. President Donald Trump at a World Trade Organization meeting on Tuesday, warning that such “tariff shocks” threaten to upend the global trading system and could risk a global recession. Trump has announced sweeping 10 per cent tariffs on all Chinese imports, prompting Beijing to respond with retaliatory tariffs and to file a WTO dispute against Washington in what could be an early test of Trump’s stance towards the institution. “These ‘Tariff Shocks’ heighten economic uncertainty, disrupt global trade, and risk domestic inflation, market distortion, or even global recession,” China’s ambassador to the...