(Ana Swanson – New York Times)
The United States will file arguments to the World Trade Organization on Thursday in a looming dispute over China’s future in the international body, which could shape the global trading system for decades to come.
Senior United States officials said on Wednesday that they would file a brief to the WTO as a third party in a case that China has brought against the European Union. The brief will lay out their legal arguments for why China does not deserve the designation of a “market economy,” a distinction that would entitle it to preferential economic treatment under the WTO.
The move is likely to ratchet up trade tensions with China, which the White House has called one of the world’s biggest trade offenders. And if China is awarded the designation against the wishes of the United States, it could test the Trump administration’s willingness to remain in the WTO, an international body for establishing trade rules and settling disputes that President Trump previously called a “disaster.” Click here to read more.