On China ’s Trade Practices, the United States Is Ramping Up Efforts with Allies

Inu ManakThis week, trade ministers from around the world were supposed to meet in Geneva to discuss a number of pressing trade issues, including new disciplines to rein in government subsidies in thefishing andagricultural sectors, and to develop a path forward to liberalize trade in areas such asenvironmental goods ande ‑commerce. These meetings are now postponed due to the emergence of the Omicron variant. These face to face meetings are not only important for addressing multilateral issues at the World Trade Organization, but also provide an opportunity for countries to discuss other trade challenges. While trade commentators have been generally skeptical of international efforts to tackle modern trade problems due to the growing tide of protectionism and nationalisticindustrial policy, we should not lose all hope. In fact, on one of the most pressing trade issues of the day —how to reconcile China’s place in the world trading system as a largely state ‐​run economy—there was some headway in trilateral talks between the United States, the European Union and Japan. This is a positive sign.The trilateral dialogue between the United States, EU and Japanbegan under the Trump administration to find “ways to strengthen existing WTO rules on industrial subsidies.” The WTO defines a subsidy as measures that involve a “financial contribution” from a “government or public body” that confer a “benefit” on the receiving firm. China...
Source: Cato-at-liberty - Category: American Health Authors: Source Type: blogs