Saturday, 24 August, 2019

India, China no longer developing nations

Donals Trumps does not like wind mills Donals Trumps does not like wind mills
Patty Aguilar | 16 August, 2019, 15:36

"They (India and China) were taking advantage of us for years and years", Trump said.

Donald Trump-led U.S. government has also seen a couple of setbacks with trade in India.

China's state media said in a commentary on July 29 that Washington's threat to pull recognition of China's "developing nation" status at the WTO was a pressure tactic, and was bound to fail.

The World Trade Organization, located in Geneva, Switzerland, was established on January 1, 1995 and is based on the General Agreement on Tariffs and Trade (GATT), concluded in 1947. The reason is the stance of President Donald Trump who claims that numerous WTO member countries enjoy the undeserved status of developing countries, which also gives them certain preferences.

"They [India and China] were taking advantage of us for years and years", while putting the U.S. at a disadvantage, he said.

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".

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"They view certain countries like China, India, many countries - they've viewed them as growing, they are growing nations".

Trump said the USA does not need the WTO if it fails to address loopholes that favour certain nations. "Well, they've grown", he said and warned that the USA will not let such countries to take advantage of the WTO. "They (India and China) were taking advantage of us for years and years", he added.

Trump declared that he will not let such countries take advantage of the WTO.

FACING another US Tariff hike, Chinese President Xi Jinping is getting tougher with Washington instead of backing down.

President Donald Trump sought to take credit Tuesday for the construction of a major manufacturing facility in western Pennsylvania as he tries to reinvigorate supporters in the Rust Belt towns that sent him to the White House in 2016.

Regulators are threatening to place American companies on an "unreliable entities" list that might face curbs on their operations.

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