Donald Trump’s trade tsar has fired a warning shot at both Beijing and the World Trade Organisation, cautioning that any decision to label China a “market economy” would have “cataclysmic” consequences for the body.
Testifying before Congress on Wednesday, Robert Lighthizer said the US was eager to see changes in the WTO’s dispute resolution system, arguing that the country had unfairly ended up as the top target for complaints in the global trade court.
But the US trade representative singled out a dispute brought last December by China against the EU and US over whether it should be deemed a market economy as the “most serious litigation that we have at the WTO right now”.
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