U.S. officially declines to recognise China as a market economy
WASHINGTON - The United States has announced that it will support the European Union at the WTO and decline to recognise China as a market economy. The announcement added that the U.S. will continue to adopt the "non-market country" approach in its anti-dumping investigations, further straining its trade relationship with China.
A China report in Caixin said the United States added that “the evidence is overwhelming that WTO members have not surrendered their longstanding rights … to reject prices or costs that are not determined under market economy conditions.”
The decision goes against China’s argument that a 2001 agreement granting China WTO membership required other members to automatically treat China as a market economy by the 15th anniversary of it joining the organisation. www.webershandwick.cn (ATI).