The Chinese Ministry of Commerce has issued a report on the World Trade Organization (WTO) compliance of the United States on Friday.
The Chinese Ministry of Commerce has issued a report on the WTO compliance of the US and stated how “damning” an indictment is the US in its double standards in the all-important area of trade and tariffs.
According to the article released by CGTN, the 2023 report by the Chinese Ministry of Commerce on the WTO compliance of the US is a damning indictment of the policies in the United States in its double standards in the important areas of trades and tariffs.
The report of the Chinese Ministry of Commerce details ways in which the US has avoided the regulations of the WTO, even ignoring them entirely. This is the case in the use of national security exceptions in restricting the export of high-technology products and investments by Chinese entrepreneurs in the US industry.
The report of the Chinese Ministry of Commerce targets the use by the US of unilateral sanctions, by applying US domestic laws to international transactions, ignoring the decisions by the Dispute Settlement Body. The report of the Chinese Ministry of Commerce also stated how the US is adopting a double standard on the use of the industrial policy, underscoring the attempts of the US to restructure the import global supply chains to the detriment of the countries that US considers as “rivals”.
The report covers 11 areas, like the tariff and non-tariff barriers, industrial subsidies, intellectual property rights, and more.
In the article that was released by chinadiplomacy.org.cn, the report by the Chinese Ministry of Commerce includes 11 areas, such as trade remedies, standards and technical rules, tariff and non-tariff obstacles, industrial and agricultural subsidies, trade in services, and intellectual property rights. It has promoted near-shoring and friend-shoring based on alleged “values,” instigated decoupling and fragmenting of industrial and supply chains, tried to use unilateral tariff measures to force reshoring of industrial chains, and established U.S.-centered industrial and supply chains through massive subsidies, according to the report of the Chinese Ministry of Commerce. The US should set a good example by abiding the rules and honoring its commitments, as well as upholding the authority and efficiency of the multilateral trading system, stated the report from the Chinese Ministry of Commerce.
The indictment of the US, according to the report by the Chinese Ministry of Commerce, will have important resonance among the other countries of the Global South. Holding the US “feet to the fire” is a significant step in the direction of seeking equal and fair treatment because it violates WTO laws.
China will, as usual, maintain close contact and cooperation with all parties, actively participate in the WTO’s reform, and collaborate to further the multilateral trading system’s advancement into a more significant role in international economic governance, according to the Chinese Ministry of Commerce.