In the US statement During this meeting, to which ABC has had access, the country again justified its tariffs with which the Chinese position puts at risk that the territory can meet the steel and aluminum needs in terms of defense in the event of a national emergency. The same February 2019 Calendar Kalnirnay speech that Trump has been holding since he gave the starting signal to the tariff war; a term, however, that organizations such as the IMF and the EU are reluctant to use, but increasingly present in the world vocabulary.
Although the EU called to block the American country, the US representation labeled as hypocritical all those who have denounced the case before the WTO: “USA. He can not stand this level of hypocrisy. ” Faced with this, China responded at the same level; with the same disqualification: “His statement reeks of hypocrisy,” said the Asian representative, to continue that the states are not under “the law of the jungle.”
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Likewise, although China acknowledged the problem of steel overproduction, it also tried to discredit US arguments based on WTO rules – like the rest of “rivals” – and stressed that they are working to correct this issue.
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Others, such as Russia and Canada, also joined in the rejection of protectionism, which has become a unanimous position in the WTO, the OECD and the IMF.
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In spite of everything, community representation did call for calm within the organization. After calling for “leaving alone” the Americans in their intention to promote protectionism, the EU also advocated lowering tensions and letting the WTO do its job.
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Europe and the US, however, also showed meeting points during the aforementioned meeting. It was the case of intellectual property rights and their alleged theft by China.
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This is a long-standing claim from several western states that has found its place in the WTO to settle. The Americans calculate that the Asian country’s attitude towards intellectual property causes damages of some 50,000 million dollars to its territory and speaks of greater damages for the rest of the globe.
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Beyond these statements, other states also focused the dispute on the attitude of the US-Mexico, which recently has closed a new trade agreement with its border partner, described as “unfortunate” the position of those who originated the trade war.
Likewise, the country led by Xi Jinping charged against the North American February 2019 Calendar Kalnirnay discourse for placing the blame in its territory. The umpteenth clash between the two major world powers that for months have been undertaking a tariff escalation difficult to stop … and endure. In the last assembly of the IMF it was alerted that the wealth of the planet would resent in 1,52 trillions of dollars (1,34 trillions of Euros), what approximately equivalent to the GIP of countries like Spain or Russia. Thus, this implies a risk for entire economies.