Watch President Trump Bash The WTO Over And Over Again
WTO finds US violated world trade rules by imposing multi-billion dollar tariffs in conflict with Beijing.
The WTO accusation has angered Washington. In the administration Donald Trump said that tariffs imposed two years ago on Chinese goods worth more than $ 200 billion were justified by the fact that China encroached on intellectual property and forced American companies to transfer their technology to get access to Chinese markets.
However, a group of three WTO members believe that US tariffs violate trade rules as they apply only to China and exceed the maximum rates agreed by the US.. In conclusion, the experts concluded that Washington failed to adequately explain why these measures are a justified exception..
«This group’s report confirms what the Trump administration has been saying for four years – the WTO is completely inadequate and unable to stop China’s illegal technological practices.», – said the U.S. trade representative in response Robert Lighthizer.
China’s Ministry of Commerce said Beijing supports the multilateral trading system and respects WTO rules and regulations, expecting Washington to do the same..
The WTO comment will not have a direct impact on US duties and is just the beginning of a legal process that could drag on for years. Ultimately, anything could lead the organization to approve of a similar response from Beijing..
The US is likely to appeal the court’s decision. However, the WTO expected such a reaction.
The group recommended that the US bring its measures «according to their obligations», but also called on both sides to work towards resolving the common dispute.
«The parties have time to take stock as the proceedings develop and further consider the possibilities for mutually satisfactory solutions.», – noted in the WTO.
During a two-year trade war with Beijing, Trump imposed tariffs on nearly all Chinese imports, worth more than $ 500 billion, before the two countries signed an agreement. «first phase» in January. However, the president notes the benefits of this deal, pointing out that Beijing has begun buying record volumes of American corn, soybeans and beef..
Trump named the WTO «terrible» and sympathetic to China, threatening to withdraw from the organization. He intends to study her claims in more detail..
«You know I’m not a big WTO fan. Maybe they did us a great service with their last actions», – he said.
The president hints that the aforementioned decision of the organization could provide another reason for the implementation of Trump’s idea to withdraw from its membership or reinforce the US arguments about reforming the trade body, said Margaret Chekuta, former USTR (U.S. Trade Mission) official.
Recall that over the years of his rule, Trump has already managed to leave UNESCO.