As recent sweeping unilateral tariffs implemented, the Greater Tumen Initiative (GTI) Secretariat concerns that such protectionist actions constitute a clear deviation from established multilateral principles and risk exacerbating market volatility, stifling cross-border investment, and disproportionately harming developing and least-developed nations.
The GTI Secretariat reiterates its full support to the open, fair, transparent, equitable, non-discriminatory, inclusive, and rules-based Multilateral Trading System with the WTO at its core, and firmly opposes all forms of unilateralism and protectionism.
During the 24th GTI Consultative Commission Ministerial Meeting in 2024, GTI Ministers reaffirmed the importance of building interconnected, resilient, stable supply chains, and maintaining an open, free, non-discriminatory and predictable trade and investment environment.
The GTI Secretariat calls on all members affected by the unilateral tariffs to exercise restraint in applying trade restrictions to each other, and suggests relevant countries to address trade imbalances scientifically and rationally, resolve differences through consultations based on equality, mutual respect, and mutual benefits, with the aim to make economic globalization more open, inclusive, balanced and beneficial to all.
