Σάββατο, 20 Ιανουαρίου 2018

Trump Administration Says US Mistakenly Backed China WTO Accession in 2001

World Trade Organization
The United States mistakenly supported China’s membership of the World Trade Organization in 2001 on terms that have failed to force Beijing to open its economy, the Trump administration said on Friday as it prepares to clamp down on Chinese trade.


“It seems clear that the United States erred in supporting China’s entry into the WTO on terms that have proven to be ineffective in securing China’s embrace of an open, market-orientated trade regime,” the administration said in an annual report to Congress on China’s compliance with WTO commitments.

“It is now clear that the WTO rules are not sufficient to constrain China’s market-distorting behavior,” the report said, Reuters reported.

While the annual report from the US Trade Representative’s office has long taken China to task for unfair trade practices, the first such review under US President Donald Trump takes a harsher tone against Beijing.

It comes amid worsening trade tensions between the world’s two largest economies and as the administration prepares actions to curb China’s alleged theft of intellectual property. A decision in the so-called “Section 301” investigation is expected in the coming weeks.

The report also points at Russia’s behavior, saying Moscow had no intention of complying with its WTO obligations, a trend the administration said was “very troubling.”
 (Tasnim)
 20/1/18

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