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Wednesday, 11 May 2016

US and China butt heads on trade before the Obama administration comes to a close

This is war. This is not trade. China is waging economic war,” the Financial Times (paywall) quotes Lourenco Goncalves, chief executive of iron ore producer Cliffs Natural Resources, as saying. The US brought a challenge in the World Trade Organisation against Chinese anti-dumping tariffs on US poultry products, marking the twelfth time the Obama administration has taken China to the WTO — more than other US administration. The administration is looking to clinch congressional approval before Obama leaves office for the Trans-Pacific Partnership. But the plans “have been complicated by the antitrade rhetoric of [Donald] Trump and others campaigning” to succeed Obama.

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