Home News Economics The EU stands on Trump’s side in the US-China trade dispute

The EU stands on Trump’s side in the US-China trade dispute

EU China summit

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The US President Donald Trump’s policy against China’s trade practices will win some high-ranking defenders during a meeting of the Trade Policy Re-evaluation Office at the World Trade Organization (WTO), which should assess the 17-year membership of Beijing in the organization.

The Chinese officials are expected to point out that their country is taking measures to continue the process of opening up its economy. But the United States, the European Union and Japan will unite on a common front, expressing disagreement with China, as well as criticizing the country’s failure to apply market principles and reform its legislation in the intellectual property sector and state subsidies.

The EU is under increasing pressure from both the US and China, which ask for support in the trade war. Beijing relies on the fact that the EU is also suffering from the actions of Washington and President Donald Trump.

Earlier last week it became clear that China wants a forthcoming summit with the EU later this month to end with a joint statement condemning Trump’s trade policy. Beijing, however, faces resistance from Brussels.

Meanwhile, despite Trump’s threats to impose higher tariffs on Europe’s cars and metal import, Brussels shares Washington’s concerns about the closed Chinese market, accusing Beijing of manipulating commercial practices.

The meeting of the Trade Policy Re-evaluation Office, which includes the WTO’s General Council, will continue until July 13 and is taking place against a backdrop of escalating trade pressure. The Trump administration earlier today threatened to impose new 10% duty on imports of Chinese goods worth 200 billion USD, which in turn led Beijing to say it would respond appropriately. Washington and Beijing have already imposed bilateral import duties for 34 billion USD each.

The United States and other countries in their camp will try to put pressure on China for its role in creating overcapacity on the iron and aluminum market. The WTO members are also expected to criticize China and its technology transfer policies, which they believe are discriminatory and lead to theft of intellectual property and technology.