Anonymous ID: 00d40a March 2, 2019, 8:04 p.m. No.5474953   🗄️.is đź”—kun   >>5030

Trump Notches Key Trade Victory Against China in WTO Ruling

 

https://www.bloomberg.com/news/articles/2019-02-28/trump-notches-key-trade-victory-against-china-in-wto-ruling?utm_source=twitter&utm_content=politics&utm_medium=social&utm_campaign=socialflow-organic&cmpid%3D=socialflow-twitter-politics

 

 

 

President Donald Trump scored a key trade victory against China when the World Trade Organization ruled that Beijing provided farm subsidies in excess of its international trade commitments.

 

The landmark ruling on Thursday could force Beijing to roll back its agricultural outlays – something that could help make America’s farmers more competitive as they struggle with the fallout of Trump’s trade war with China.

 

"This panel report is a significant victory for U.S. agriculture that will help American farmers compete on a more level playing field," the office of the U.S. Trade Representative said in a statement. “We expect China to quickly come into compliance with its WTO obligations,” Trade Representative Robert Lighthizer said.

 

“U.S. farmers have been hurt by China’s overproduction and protectionist measures for too long and it’s past time for China to start living up to its commitments," said Vince Peterson, the president of U.S. Wheat Associates, a Washington-based farm lobby.

 

The decision from the Geneva-based trade body also provides the Trump administration with added leverage in negotiations aimed at reducing Beijing’s use of state-directed subsidies to benefit Chinese farmers and manufacturers. On Wednesday, Lighthizer told lawmakers in Washington that he was talking to his Chinese counterparts about "resolving" the dispute in the context of the Trump administration’s broader trade negotiations with Beijing.