Trump Targets India and China, Says this!

16 Août, 2019, 15:39 | Auteur: Anatole Charbonneau
  • Green sea turtle with plastic bag in the Great Barrier Reef. Image courtesy WWF Australia

President Trump told workers Tuesday at Shell's $6 billion ethane cracker complex near Monaca, Pennsylvania, more big USA energy projects are coming, Kallanish Energy reports.

Addressing a gathering in Pennsylvania on Tuesday, Trump said he was considering his country's exit from the WTO if conditions within the organization are not improved. "They (India and China) were taking advantage of us for years and years", Trump said.

The White House said in a memorandum that China and many other countries continue to style themselves as developing countries "allowing them to enjoy the benefits that come with that status and seek weaker commitments than those made by other WTO members".

The US President has been a vocal critic of India for levying "tremendously high" duties on US products and has described the country as "tariff king".

Mr Chad Bown, a trade expert with the Peterson Institute for International Economics, said the moves weakening the WTO have done "lasting damage", not all of which can be reversed.

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WTO grants developing countries the right to operate under different rules than advanced economies in certain areas, for instance regarding tariff cuts, transition periods and dispute settlements.

Championing his "America First" policy, Trump said, "We know that they have been screwing us for years and it's not going to happen again".

In the speech Tuesday, he reiterated his criticism that the countries are taking advantage of the United States through claiming developing-country status.

"Well, they've grown", he said.

In a memo to Robert Lighthizer, the USA trade representative, Trump wrote that the WTO was based on an "outdated dichotomy" between developing and developed economies and was in "desperate need of reform". Washington's possible withdrawal from the World Trade Organization (WTO) would make its further existence meaningless, Kremlin Spokesman Dmitry Peskov told reporters on Wednesday. Chinese buyers cancelled multibillion-dollar purchases of US Soybeans.

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