U.S. opposes granting market economy status to China
December 5, 2017 Category China News Round-up, Weekly
The United States formally informed the World Trade Organization (WTO) that it opposes granting market economy status to China, a position that, if upheld, would allow Washington to maintain high anti-dumping duties on Chinese goods. The U.S. statement of opposition was submitted as a third-party brief in support of the European Union in the dispute. In response, China urged the United States to scrap its “non-market economy status” treatment of trade with China, and treat the country’s goods fairly. Some countries are trying to “skirt their responsibility” under WTO rules, Foreign Ministry Spokesman Geng Shuang said.
China has in past years been fighting the EU and the U.S. for recognition as a market economy, a designation that would lead to dramatically lower anti-dumping duties on Chinese goods by prohibiting the use of third-country price comparisons. “Launching more anti-dumping investigations under various excuses against China will damage the interests of all three parties in the long run,” said Li Guanghui, Vice President of the Chinese Academy of International Trade and Economic Cooperation in Beijing.
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