Mexican Media Brands
U.S. Envoy Asks: Should China Be Tossed Out of WTO?
The head of the U.S. Council of Economic Advisers asks whether a “misbehaving” China should be sanctioned by the World Trade Organization or even removed from the group.
#economics
Share
The head of the U.S. Council of Economic Advisers asks whether a “misbehaving” China should be sanctioned by the World Trade Organization or even removed from the group.
Kevin Hassett tells BBC News that the 23-year-old WTO played a useful historic role in helping to modernize global trade. But he says the group has never needed until now to confront a member like China “that is misbehaving so much.”
He also complains that WTO decisions on trade disputes take too long, and its sanctions aren’t strong enough to deter countries from ignoring the organization’s rules. Hassett doesn’t suggest expulsion for China. But he questions whether the country’s behavior can be curbed by negotiation, tougher WTO rules or as a last resort, expulsion.
Hassett declares as highly effective President Donald Trump’s hardball strategy of using massive tariffs to force China to negotiate over tariffs, intellectual property protection and domestic business practices. He insists that Trump’s goal isn’t protectionism, but rather barrier-free trade among all countries.
RELATED CONTENT
-
What Suppliers Need to Know Right Now
This is a time of reckoning for the auto industry, says Paul Eichenberg. He has some recommendations as to how companies can make their way through it.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.