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US trade bullying will hurt its long-term interests
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THE trade bullyism practices of the United States have shaken the foundations of the global multilateral trading regime, which will ultimately hurt its long-term interests.
The new US administration has practiced unilateralism and economic hegemony with a narrow focus on “America First” since taking office.
This has not only undermined the interests of China and other countries, but also jeopardized the international reputation of the US itself, the white paper said.
The United States unilaterally provokes trade friction on the pretext of its domestic law.
The white paper said the US, citing industrial injuries and protection of intellectual property rights, regularly circumvented the dispute settlement system of the WTO and provoked international trade friction merely using US domestic law as a pretext, initiating a host of investigations under the auspices of Section 232, Section 201 and Section 301.
“Such unilateralist actions have harmed the interests of China and other WTO members. More importantly, they have undermined the authority of the WTO and its dispute settlement system,” the white paper said.
It notes that the US uses “long-arm jurisdiction” and imposes sanctions against other countries based on domestic laws.
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