When it comes to trade disputes, give WTO a chance

When it comes to trade disputes, give WTO a chance

A Chinese commerce official made remarks Wednesday in response to the United States' WTO challenge to China's countermeasures on the U.S. Section 232 investigation over steel and aluminum imports.

Mei Xinyu, a researcher affiliated with China's Ministry of Commerce, agreed with the suggestions, saying China had to improve its economic ties with the European Union and Japan and use the trade war as a "pressure test" to spot economic vulnerabilities.

China criticized the move but has yet to say whether it would retaliate for the second round of tariffs.

The two sides are firmly committed to fostering an open world economy, promoting trade and investment liberalization and facilitation, and resisting protectionism and unilateralism. As one of the world's four largest traders, Beijing's next TPR will be in three years, under new WTO timeframes for these trade monitoring exercises.

USA media reported earlier that sellers of the "Make America Great Again" caps - which are available, among other places, via the U.S. president's official website - were stockpiling them while they waited for a decision on the tariffs.

In the US, South American and Southeast Asian shrimp and tilapia exporters are best positioned to sell more there as Chinese imports become costlier.

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"There might be a limited quantity [of hats] in the future", Lassoff said.

Could the WTO be used to make the USA back off tariffs? On Monday, China said that it filed a WTO challenge against those proposed USA tariffs. "Exporters to China such as Canada, Russia, Australia, and New Zealand, and exporters to the USA, such as Indonesia, Thailand, Mexico, and Brazil will be the winners as they can replace USA and Chinese seafood exports", de Jong wrote.

Before the 2016 USA presidential election, the company manufactured a "considerable volume" of "Make America Great Again" caps, but no longer sells Trump-related apparel. "The Chinese tilapia industry is heavily dependent on the United States market", she wrote. "Of course, we will need to reassess our markets if it continues".

"We have noted relevant reports. Our stance on the development of the China-U.S. relations is also consistent and clear-cut".

Launched Jan. 1, 1995, as the successor to the General Agreement on Tariffs and Trade, the WTO's mission is to facilitate free and fair trade.

In an interview with CCTV, Fu Ying, an expert at a think tank under the state-run Academy of Social Sciences, put it thusly: "Since the United States has put the blame and responsibility on China and other countries ... the alliance's most pressing task is to research how to respond to this grim situation".

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