UPDATED 1:45 PM PT – Fri. Nov. 23, 2018
China is calling on the World Trade Organization to reform some of its policies, claiming the U.S. and other members are using loopholes to take advantage of the system.
On Friday, China’s Vice Minister of Commerce Wang Shouwen said, core WTO values need to be upheld, adding the organization should ensure trade policies are fair and protect the interests of developing countries.
The Trump administration has also called out the organization, saying the WTO needs to crack down on China’s subsidies for state-owned enterprises, and prevent the country from stealing valuable intellectual property.
China has repeatedly denied its trading practices are unfair and noted the U.S. is a valuable member of the WTO.
Shouwen called out the trade organization’s agriculture subsidies, saying they are excessive and only benefit developed countries.