US Trade Representative Katherine Tai on Friday called for meaningful progress in making changes to the World Trade Organisation by a ministerial meeting in February, with better tools needed to handle China’s “non-market” practices.
The US was committed to a reformed WTO that was focused on its “foundational goals”, marked by “openness, transparency, and fair-market-oriented competition”, Tai said in remarks to a trade forum in Washington. She said that in recent years, the WTO has failed to address non-market practices by some countries, seeking to “dominate key industrial sectors, promote national champions and discriminate foreign competitors, massively subsidise key sectors and manipulate cost structures.” Her remarks did not name China directly, but she later said she was referring to China. “Real conversations” were needed on how the WTO can address issues, Tai said.—REUTERS
