WTO Members Elect New Goods Council Chair, Discuss US Reciprocal Tariffs
World Trade Organization members elected Argentina's Gustavo Nerio Lunazzi the new chair of the Council for Trade in Goods, the WTO announced.
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At the April 9-10 meeting of the council, WTO members also discussed over 30 trade concerns, including the new U.S. reciprocal tariffs, a proposal from the EU on fluorinated greenhouse gases and export restrictions on raw minerals in the Philippines.
Regarding the U.S. tariffs, China said the measures are counter to WTO rules and "undermined the multilateral trading system." Twenty members expressed their concern about the tariffs, emphasizing the need to resolve trade disputes "through dialogue and cooperation within the WTO framework." The U.S. said the duties are pursuant to its own essential security interests under the "essential security exception in the WTO Agreement."