Saturday, November 7, 2026

China drops WTO developing country status amid US pressure, Trump tariffs

Date:

China announced it will no longer seek special treatment reserved for developing countries under World Trade Organization (WTO) rules, a move hailed as a breakthrough for global trade reform.The decision, unveiled by Premier Li Qiang at a development forum on the sidelines of the UN General Assembly in New York, comes after years of U.S. pressure. Washington has long argued that China, the world’s second-largest economy, should not enjoy concessions such as longer transition periods to open markets or reduced commitments on tariffs.
Beijing’s Commerce Ministry officials framed the shift as an effort to strengthen the WTO at a time when the multilateral system faces severe strain from protectionism and tariff wars, notably those unleashed by President Donald Trump’s administration. While China did not explicitly mention the U.S., Trump’s sweeping tariffs on Chinese goods and those from other countries this year have heightened trade tensions and undermined the WTO’s relevance.
WTO Director-General Ngozi Okonjo-Iweala welcomed the announcement, calling it “major news key to WTO reform” and the result of “many years of hard work.” The decision could pave the way for long-delayed negotiations on global trade reform, as the WTO struggles with declining credibility and enforcement challenges.Although Chinese officials stressed that the country remains part of the developing world, Beijing has increasingly positioned itself as a global lender and infrastructure financier, funding major projects through state-owned enterprises across Asia, Africa, and Latin America.

Analysts say the move may improve China’s standing in global trade talks and undercut U.S. accusations of unfair advantage, while also signaling Beijing’s attempt to portray itself as a responsible stakeholder in global governance.

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Raamdeo Agrawal sees FIIs return as earnings improve and valuations turn attractive

Question Looking at the valuation compression across the market, are...

Stocks to Watch for November 2: Reliance Industries, Jio Platforms, BEL, Vodafone Idea, IOC, M&M and more

From Reliance Industries and Jio Platforms reporting strong quarterly...

Nvidia chief Jensen Huang reportedly targeted in Chinese spy plot | World News

By Jonathan Swan , Maggie Haberman , Ana Swanson...

Anup Bagchi takes charge at HDFC Bank: Can he close the gap with ICICI Bank?

When Anup Bagchi takes charge as MD and CEO...