US and China clash at WTO, blame each other for global trade crisis

US accused China of seeking to "outright steal" technology in strategic industries and dump its products on US markets, saying 'this is not acceptable'

trade war
Photo: Shutterstock
Reuters Geneva
Last Updated : Dec 19 2018 | 5:43 PM IST

The United States and China clashed again at the World Trade Organization (WTO) on Wednesday, accusing each other of undermining the multilateral trading system, according to speeches from the closed-door talks seen by Reuters.

U.S. Ambassador Dennis Shea accused China of seeking to "outright steal" technology in strategic industries and dump its products on U.S. markets, saying "this is not acceptable".

China's envoy said that "reckless actions" by the Trump administration were the root of the crisis but that China hoped that in the follow-up to their leaders' summit, the two powers can "move in the same direction with mutual respect to contribute to the stability of world economic and trade environment".

 

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Dec 19 2018 | 4:13 PM IST

Next Story