China gives up developing-country treatment in bid to boost WTO in face of Trump tariffs

BEIJING — China has said it would no longer seek the special treatment given to developing countries in World Trade Organization agreements — a change long demanded by the United States. Commerce Ministry officials said Wednesday the move was an attempt to boost the global trading system at a time when it is under threat from tariff wars and protectionist moves by individual countries to restrict imports. They did not mention the United States by name or President Donald Trump's imposition of tariffs on many other countries this year, including China. The U.S. has long argued China should give up the developing-country status because it is the world’s second-largest economy. The advantages of that designation at the WTO include lower requirements to open their markets to imports and longer transition periods to implement such market-opening steps. The WTO provides a forum for global trade talks and enforces agreements but has become less effective, prompting calls for reform. The head of the Geneva-based organization described the Chinese move as “major news key to WTO reform” aWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times