Viet
ELITE MEMBER
- Joined
- Jun 18, 2012
- Messages
- 29,950
- Reaction score
- 0
- Country
- Location
US President Donald Trump
Developing CountriesDonald TrumpWTO
Geneva: Continuing his trade wars on multiple fronts, President Donald Trump has dropped another bombshell. He threatened on Friday that the US will no longer treat China, India, South Africa, and Indonesia as developing countries for availing special and differential treatment during the current and future multilateral trade deals negotiated at the World Trade Organization (WTO).
The US, he said, will “use all available means to secure changes at the WTO that would prevent self-declared developing countries from availing themselves of flexibilities in WTO rules and negotiations that are not justified by economic and all other indicators."
In 90 days, China, India, South Africa, Indonesia , and 30 more countries must stop designating themselves as developing countries for availing what is referred to as the S&DT (Special and Differential Treatment).
Otherwise, the US
(a) “will not support any such country’s membership in the OECD (the Organization for Economic Cooperation and Development)";
(b) “consider the WTO member’s involvement in global trade, membership in key economic decision-making groups, placement within relative economic and other indicators, and any other factors the USTR (United States Trade Representative) deems appropriate"; and
(c) the USTR shall publish on its website a list of all self-declared developing countries that the USTR believes are inappropriately seeking the benefit of developing country flexibilities in WTO rules and negotiations."
https://www.livemint.com/news/india...ndonesia-at-wto-says-trump-1564233312851.html