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The escalating trade war and new US tariffs on Chinese goods could end up being the catalyst needed for the WTO to modernise Former senior US trade officials are urging the Trump administration to work with allies to modernise the World Trade Organisation and use the body to resolve its grievances with China, rather than continue its barrage of tariffs that flout WTO rules. The US-China trade war has seen the WTO largely relegated to the sidelines, with critics contending that a number of its mechanisms are outdated and thus inadequate for dealing with practices involving digital trade and state-led economies - issues core to US claims about China.
U.S. President Donald Trump escalated his trade war with China on Monday, imposing 10 percent tariffs on about $200 billion worth of Chinese imports, but sparing smart watches from Apple ( Trump, in a statement announcing the new round of tariffs, warned that if China takes retaliatory action against U.S. farmers or industries, "we will immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports." The iPhone was not among the 'wide range' of products that Apple told regulators would be hit by the $200 billion round of tariffs in a Sept.
Farmers, electronics retailers and other U.S. businesses are bracing for a backlash as President Donald Trump prep... The administration is expected Thursday to slap trade sanctions on China, perhaps including restrictions on Chinese investment and tariffs on as much as $60 billion worth of Chinese products. The administration is expected Thursday to slap trade sanctions on China, perhaps including restrictions on Chinese investment and tariffs on as much as $60 billion worth of Chinese products.