China: US demand of WTO shows ‘arrogance and selfishness’

Business News
This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

BEIJING (AP) — China has accused Washington of “arrogance and selfishness” after President Donald Trump added to trade strains with Beijing by pressing for the World Trade Organization to stop allowing some countries to more lenient treatment as developing economies.

A foreign ministry spokeswoman said Monday that China needs to retain that status to “achieve real trade fairness.”

Trump said in a memo Friday he wants the WTO to prevent stronger economies from claiming developing country status.

Developing countries are allowed more time to open their economies under WTO rules. They have more leeway to subsidize exports and procedural advantages in WTO disputes.

The Chinese spokeswoman, Hua Chunying, said the Trump administration’s demand “further exposed its wayward arrogance and selfishness.”

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Don't Miss