The Trump administration will push for a broad reset of 'outdated tariff determinations' at the World Trade Organization to fix what it sees as years of unfair treatment of the United States, a top trade official told U.S. lawmakers on Wednesday.
WASHINGTON - The Trump administration will push for a broad reset of “outdated tariff determinations” at the World Trade Organization to fix what it sees as years of unfair treatment of the United States, a top trade official told U.S. lawmakers on Wednesday.
“Many countries with large and developed economies maintain very high bound tariff rates, far above those levied by the United States,” he said in prepared testimony for a hearing held by the U.S. House of Representatives Ways and Means Committee. The Trump administration has complained for years about the WTO’s failure to hold China accountable for unfair trade practices, and insists that China - the world’s second-largest economy - should no longer be treated as a developing country.
Washington last year crippled the WTO’s ability to intervene in trade wars after blocking appointments to the Appellate Body, which rules on appeals in disputes. Lighthizer on Wednesday said it would be “fine” if the body never returned.
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