EU, U.S. Refuses to Grant China Market Economy Status for the World Trade Organization

If market economy status was granted, China would see greatly reduced tariffs and duties for Chinese exports.

CCTV America
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China filed a complaint at the World Trade Organization (WTO) in Geneva after the European Union (EU) and United States didn’t grant it market economy status.

Market economy status means that your trading partners trust that your products are not being heavily subsidized to muscle out domestic competition.

China is not happy that the EU didn’t grant it market economy status, which would have seen tariffs and duties greatly reduced for Chinese exports into Europe.

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