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Thursday, January 20, 2022

U.S. and China clash at WTO, blame each other for trade crisis

U.S. and China clash at WTO, blame each other for trade crisis© Reuters. FILE PHOTO: A WTO logo is pictured on their headquarters in Geneva

GENEVA (Reuters) – The United States and China clashed again at the World Trade Organization (WTO) on Wednesday, accusing each other of undermining the multilateral trading system, according to speeches from the closed-door talks seen by Reuters.

U.S. Ambassador Dennis Shea accused China of seeking to “outright steal” technology in strategic industries and dump its products on U.S. markets, saying “this is not acceptable”.

China’s envoy said that “reckless actions” by the Trump administration were the root of the crisis but that China hoped that in the follow-up to their leaders’ summit, the two powers can “move in the same direction with mutual respect to contribute to the stability of world economic and trade environment”.

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Source: Investing.com

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