China Gives Up WTO Effort To Be Recognized As A Market Economy
As Reuters reported last month, the Chinese government has ended its effort at the World Trade Organization (WTO) to gain market economy status. That means China must continue to accept European Union and United States “anti-dumping” levies on Chinese goods.
Such a designation would make it harder for U.S. industry to enforce trade laws in targeted antidumping and countervailing duty cases against China.
As members might recall, the Metals Service Center Institute was part of the Manufacturers for Trade Enforcement coalition, which argued the Chinese economy does not meet the basic requirements set forth by the U.S. Department of Commerce for a functioning market economy and that a determination by the Trump administration that the Chinese economy continues to meet the definition of a non-market economy is vital for U.S. manufacturers seeking redress for unfair trade practices by Chinese firms.