AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

GENEVA: China accused Washington on Wednesday of using subsidies to prop up national industries and refusing to abide by the rules of the World Trade Organization.

China’s ambassador to the WTO Li Chenggang said in a speech that he was disappointed in the U.S. trading record, saying it had not lived up to President Joe Biden’s inaugural pledge to lead “by the power of our example”.

“The United States puts ‘America First’ by prevailing its domestic laws over international rules and (the) laws of others, disregarding WTO rules and concerns of other members,” he told a closed-door U.S. trade policy review at the Geneva-based WTO.

“Clearly, the United States is a destroyer to the multilateral trading system,” he added, according to the text of his speech which was released in English by China’s WTO delegation.

China launches suit at WTO against U.S. chip export curbs: Global Times

The U.S. ambassador to the WTO, Maria Pagán, defended U.S. policies, saying it was one of the most open and competitive economies in the world with some of the lowest tariffs. “For many decades, the United States has led by maintaining a fundamentally open economy,” she said.

The U.S. trade policy review occurs every few years and allows members of the 164-member body to give feedback on Washington’s track record.

China’s remarks came days after it filed a WTO trade complaint against U.S. curbs on chip exports.

The United States has previously said China’s industrial policies were skewed against imported goods and services. It has also called on the world’s second-largest economy to carry out further liberalisation and open its vast markets.

UAE to host next WTO ministerial meeting

The WTO’s system for settling global trade disputes has been only partially functional since Dec. 2019 when Washington’s repeated blockage of judge appointments under former President Donald Trump paralysed its top court. That means that any member, including the United States, can and has appealed decisions made by a lower court into a legal limbo.

Ambassador Li called Washington a “capricious rule-breaker” for not implementing rulings. The U.S. has repeatedly criticised the WTO dispute settlement system for overreach and is currently leading a consultation process with members on how to reform it.

Comments

Comments are closed.

Ahmad Muazzam Dec 14, 2022 08:21pm
چور مچائے شور
thumb_up Recommended (0)