On June 14, local time, the World Trade Organization held the second annual meeting of the Council on Trade in Services in Geneva, Switzerland. China has taken the initiative to set the agenda to expose and criticize the misleading narrative and logical error of the US's "reciprocal tariffs" that selectively focus on the trade deficit in goods and ignore its own benefits through trade in services. The Chinese side pointed out that the United States is the world's largest surplus in trade in services, and has maintained a long-term surplus with major trading partners, with a surplus of nearly $300 billion in 2024. Not only that, by deeply participating in R&D, design, sales and other links with the highest added value in the global value chain, the United States has obtained much higher benefits in international trade and economic globalization than the trade data shows. It is obviously one-sided and misleading for the US to talk only about "losses" in trade in goods and "profits" in trade in services. The US cannot adopt double standards and "apply rules in different fields if they are suitable, and abandon them if they are not", let alone allow itself to benefit and not allow other members, especially developing members, to benefit.
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"Only talk about losses and avoid discussing profits" China criticizes the US's erroneous narrative on "reciprocal tariffs".
On June 14, local time, the World Trade Organization held the second annual meeting of the Council on Trade in Services in Geneva, Switzerland. China has taken the initiative to set the agenda to expose and criticize the misleading narrative and logical error of the US's "reciprocal tariffs" that selectively focus on the trade deficit in goods and ignore its own benefits through trade in services. The Chinese side pointed out that the United States is the world's largest surplus in trade in services, and has maintained a long-term surplus with major trading partners, with a surplus of nearly $300 billion in 2024. Not only that, by deeply participating in R&D, design, sales and other links with the highest added value in the global value chain, the United States has obtained much higher benefits in international trade and economic globalization than the trade data shows. It is obviously one-sided and misleading for the US to talk only about "losses" in trade in goods and "profits" in trade in services. The US cannot adopt double standards and "apply rules in different fields if they are suitable, and abandon them if they are not", let alone allow itself to benefit and not allow other members, especially developing members, to benefit.