US President Donald Trump said India and China were no longer “developing countries” and were “taking advantage” of the tag from the WTO, though he insisted it would not happen.
Successful in his ‘America First’ policy, Trump has been critical of India for imposing “excessive” tariffs on US products and describing the country as a “tariff king”
The US and China are currently embroiled in a trade war with Trump imposing punitive tariffs on Chinese goods and Beijing retaliating.
In July, Trump asked the WTO how the move, which aims to isolate countries such as China, Turkey and India, which are being treated as sensitive to global trade rules, dictates the status of a developing country.
In a memorandum, Trump authorized the US Trade Representative (USTR) to initiate punitive action if any developed economies take advantage of the WTO loopholes.
Addressing a gathering in Pennsylvania on Tuesday, Trump said that Asia’s two economic giants – India and China are no longer developing countries, so they cannot benefit from the WTO.
However, they are taking advantage of the developing country tag from the WTO, which is turning America into a negative. “They (India and China) have been treating us well for years and years,” Trump said.
*From Various Sources