Working together to defend multilateralism and jointly maintain the global economic order

Recently, the US has imposed tariffs on all its trading partners, including China, under various pretexts such as national security and trade deficit. 

This severely infringes upon the legitimate rights and interests of all countries, severely violates World Trade Organization (WTO) rules, severely undermines the rules-based multilateral trading system, and severely disrupts the global economic order. 

The Chinese government strongly condemns and resolutely opposes such a move.

US' unilateral bullying behaviour undermines global economic order

Under the guise of "reciprocity" and "fairness", the US is playing a zero-sum game to pursue, in essence, "America First" and "American exceptionalism". 

By abusing tariffs, the US defies the fundamental laws of economics and market principles, disregards the balanced outcomes achieved through multilateral trade negotiations and ignores the fact that the US has long benefited substantially from international trade. 

This is a typical act of unilateralism, protectionism and economic bullying. 

The US is weaponising tariffs to exert maximum pressure for selfish interests and attempting to exploit tariffs to subvert the existing international economic and trade order and put US interests above the common good of the international community, which seriously undermines the stability of the global industrial and supply chains and threatens the recovery of the world economy. 

History has repeatedly proved that there are no winners in trade or tariff wars. Protectionism is a dead end. The international community needs to be aware that economic bullying that shifts risks onto others will ultimately backfire. 

All countries should uphold the principles of Consultation, Contribution and Shared Benefits, jointly oppose unilateralism, and maintain the multilateral trading system with the WTO at its core.

China has always been a defender of economic globalisation and multilateral trading system

Facing the challenge of anti-globalisation, China emphasises that economic globalisation is the only way to human progress and the WTO-centred, rules-based multilateral trading system has been critical in promoting global trade, economic growth and sustainable development. 

China is committed to opening ever wider to the world. We will continue to advance high-standard opening up. We will steadily expand institutional opening up in rules, regulations, management, and standards. We will implement high-standard policies for trade and investment liberalisation and facilitation. 

As a Chinese proverb goes, "Friendship holds the key to sound state-to-state relations." Only through deeper exchanges can our peoples achieve true integration and heart-to-heart bonds. China will continue to provide convenience for the Bangladeshi people to go to China for medical treatment, continue to expand the number of scholarships, and encourage more Bangladeshi people to do business, study and live in China.

We will foster a high-standard, market-orientated, law-based, and internationalised business environment. And we will share our development opportunities with the world to achieve mutual benefits. 

China's development practice shows that openness and cooperation are the historical trend. China is ready to inject confidence into the world through its own actions and become an anchor and safe haven for the world economy.

China and the US should return to right track of mutual benefit and win-win results

China-US economic relations should be mutually beneficial and win-win in nature. However, the act of the US not only undermines the legitimate development rights of the Chinese people but also goes against the shared aspiration of the peoples of the two countries and the world. 

The Chinese people value sincerity and good faith. We do not provoke trouble, nor are we intimidated by it. Pressure and threats are not the right way to deal with China. 

China urges the US to stop using tariffs as a weapon to suppress China economically and stop undermining the legitimate development rights of the Chinese people based on the fundamental interests of both countries. 

We are confident that the vast majority of countries, committed to fairness and justice, will stand on the right side of history and act in their best interests. The world must embrace fairness and reject hegemonism.

In contrast to US hegemonic acts, China has unilaterally opened its market to the least-developed countries. Since 1 December last year, China granted zero-tariff treatment to 100% of taxable items for all least-developed countries having diplomatic relations with China, including Bangladesh. 

This demonstrates China's responsibility as a major country and its commitment to helping LDCs overcome their disadvantaged position in global trade through concrete actions, driving practical cooperation within the Global South. China-Bangladesh cooperation is a vivid example and model of South-South collaboration.

This May, Bangladesh's fresh mangoes will enter the Chinese market, and China has also initiated market access procedures for Bangladeshi guavas and jackfruits. Since the interim government took office, numerous Chinese companies have signed investment agreements with the Bangladeshi side, with the intended investments reaching$400 million in total. 

Last month, Hon'ble Chief Adviser Professor Muhammad Yunus attended the Boao Forum for Asia Annual Conference 2025 and paid a successful visit to Beijing, achieving outcomes even beyond expectations. 

The two sides issued a joint press release and reached more than 10 practical cooperation agreements, elevating the China-Bangladesh Comprehensive Strategic Cooperative Partnership to new heights under the guidance of the leaders of both countries. 

This visit holds milestone significance in bilateral relations and injects greater certainty into the stability and prosperity of South Asia and the global economy.

China and Bangladesh will open a new chapter for the long-standing friendship

As President Xi Jinping noted, China maintains a high degree of stability and continuity in its good-neighbourly and friendly policy toward Bangladesh. It remains firmly committed to the policy of good neighbourliness and friendship towards all people of Bangladesh and is committed to being good neighbours, good friends, and good partners of mutual trust with Bangladesh. 

China will continue to support Bangladesh on issues concerning each other's core interests and major concerns, sending strong signals of mutual trust and assistance and elevating bilateral strategic trust to unprecedented levels. Together, a new chapter for the long-standing friendship between the two countries will be opened.

China and Bangladesh will continue to advance high-quality Belt and Road cooperation

Both countries are at a critical stage of national development and are working relentlessly for their people's well-being. It is now a broad consensus in Bangladesh that China is the most trustworthy and reliable development partner. During his visit, Professor Yunus emphasised industrial relocation, water conservancy cooperation and attracting investment. 

China responded positively to all of them. China also holds strong confidence in the huge potential for developing practical cooperation between the two countries. China will further deepen reforms comprehensively and promote high-standard opening up, which will bring new opportunities for the development of Bangladesh and countries around the world. 

China will accelerate the construction of the Mongla Port and Chinese Economic and Industrial Zone in Chittagong, and stands ready to participate in the Teesta River Comprehensive Management and Restoration Project. China will continue to promote high-quality Belt and Road cooperation and explore further cooperation in the fields of digital economy, green economy, marine economy, infrastructure, and water conservancy.

China and Bangladesh will draw a brand new and vivid picture of people-to-people exchanges

As a Chinese proverb goes, "Friendship holds the key to sound state-to-state relations." Only through deeper exchanges can our peoples achieve true integration and heart-to-heart bonds. China will continue to provide convenience for the Bangladeshi people to go to China for medical treatment, continue to expand the number of scholarships, and encourage more Bangladeshi people to do business, study, and live in China. 

Professor Yunus also pointed out that language is very important to understand and learn the culture of a country. 

The Chinese side will continue to support the two Confucius Institutes and one Confucius Classroom in ensuring quality Chinese language instruction, support the Centre for China Studies in playing well its role as a think tank, accelerate the construction of the Chinese Cultural Centre, and promote mutual learning between the two countries in people-to-people exchanges.

Equality and mutual benefit are always the cornerstone of international relations. China stands ready to work with Bangladesh and all nations to build a fair world of common development, advance economic globalisation towards greater openness and inclusiveness with balanced benefits, jointly defend multilateralism, and deliver more tangible benefits to the people of China, Bangladesh, and beyond.

HE Mr Yao Wen is the Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to the People's Republic of Bangladesh.