U.S. says China market economy status not automatic - WTO official

Image
Reuters GENEVA
Last Updated : Jul 14 2016 | 10:07 PM IST

GENEVA (Reuters) - The United States told China on Thursday that it would not be granted automatic market economy status on December 11 as it has requested, said a World Trade Organization official who was present at the meeting where the exchange took place.

The U.S. official said the burden was on China to establish that it was a market economy, but so far its market reforms had fallen short of expectations, especially in aluminium and steel where state intervention had led to oversupply and overcapacity, threatening industries around the world.

The WTO official said it was the first time the United States had responded to China on the issue at the WTO.

(Reporting by Tom Miles; editing by Stephanie Nebehay)

More From This Section

First Published: Jul 14 2016 | 9:59 PM IST

Next Story