US accuses China of backing away from free-trade commitments
Source: AP
By PAUL WISEMAN
WASHINGTON (AP) The United States has accused China of failing to meet its commitments to the World Trade Organization and says it is exploring new ways to combat aggressive Chinese trade practices.
In its annual report on Chinese compliance with WTO rules, the Office of the U.S. Trade Representative said Wednesday that China isnt keeping the promises it made to open its markets to foreign competition when it joined the 164-country Geneva-based agency in 2001.
China has instead retained and expanded its state-led, non-market approach to the economy and trade, said U.S. Trade Representative Katherine Tai. Chinas policies and practices challenge the premise of the WTOs rules and cause serious harm to workers and businesses around the world.
Among other things, the United States repeated longstanding accusations that China uses subsidies and regulations to favor its own companies at the expense of foreign competitors; floods world markets with cheap steel, aluminum and other products; and forces U.S. and other foreign companies to hand over prized technology as the price of access to Chinese markets.
FILE - Shipping containers are seen at a port of Kwai Tsing Container Terminals in Hong Kong, Friday, Nov. 5, 2021. The United States has accused China in a report Wednesday, Feb. 16, 2022, of failing to meet its commitments to the World Trade Organization. (AP Photo/Kin Cheung, File)
Read more: https://apnews.com/article/business-china-united-states-global-trade-economy-a11b052670722860d74656759695d38e
nycbos
(6,034 posts)In my Claude Rains voice "I am shocked shocked to find gambling going on here."
oldsoftie
(12,555 posts)By law if necessary.
David__77
(23,421 posts)
Farmer-Rick
(10,185 posts)Did they think a totalitarian government would carefully follow "free" trade agreements to the detriment of their own economy? No only the US does this.
Did they think a country that proudly calls itself Socialist would follow capitalism to the brink of destruction?
Geez, are capitalist that stupid?
Seems free trade has come back to bite American oligarchs in the butt. It's so predictable and kind of funny.