On Tuesday, addressing a gathering at Pennsylvania, Trump said India and China— the two economic giants from Asia— are no longer developing nations and as such they cannot take the benefit from the WTO.
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The Donald Trump administration has demanded that China cut its $375 billion trade surplus with the United States, end policies aimed at acquiring US technologies and intellectual property and roll back high-tech industrial subsidies.
“Our focus is to keep the WTO alive and stronger. We never had such challenging times in global trade. Existence of the WTO is under threat. People are questioning accepted trading practices,” said Suresh Prabhu.
A potential trade war has been brewing between the two nations since April 2017 when Trump directed the Commerce Department to investigate whether imports of foreign steel from China and other countries could be a threat to national security.