US lawsuit against China at the WTO may spark “trade war”

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The US will file a lawsuit with the World Trade Organization against China for alleged violations of international trade law.

US President Donald Trump will announce on measures that will be taken against China Thursday, the White House said. It is planned to sign a memorandum “on combating China’s economic aggression”. As expected,  higher fees for imports from China will make up around 50 billion dollars a year.

Earlier, spokesman for the president Raj Shah said that Trump believes the Chinese government is responsible for conscious efforts to manipulate the market, steal technology and intellectual property from the United States.

 

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Trump also intends to announce new import duties on aluminum and steel from a number of countries, including China and Russia.

Experts fear that Trump’s protectionist measures will lead to a big trade war involving the US, China, the European Union and, probably, other countries. The head of the Federal Reserve, Jerome Powell, warned of the threat of a trade war.

The US trade deficit with China amounted to a record $ 375 billion in 2017.

 

Source RIA
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