Global Markets
Home›Global Markets›Trade & Tariffs›US trade official says China targets industrial sector…
US trade official says China targets industrial sectors via WTO review
The remarks came as US steelmakers urged Washington to consider additional tariffs amid complaints tied to China’s steel overcapacity.
The South China Morning Post reports that at a hearing reviewing China’s compliance with World Trade Organization commitments, a senior US trade official said Beijing was targeting entire industrial sectors for global dominance while still relying on a non-market economic system.
According to SCMP Economy, Terry McCartin, assistant US trade representative for China, Mongolia and Taiwan affairs, warned that China’s anticompetitive behavior poses a major challenge to the global trading system, adding that China still embraces a non-market economic system after 25 years of WTO membership.
The same hearing also coincided with calls from US steelmakers for Washington to consider additional tariffs and coordinate with other countries to counter China’s steel overcapacity, as industry groups outlined complaints about Beijing’s trade practices ahead of the Wednesday session.