(Yicai Global) March 30 -- US President Donald Trump’s administration will reassess China’s status as a market economy under the World Trade Organization framework, foreign media reported. If it decides not to recognize China as a market economy, products imported from the country may suffer a rise in tariffs.
The result may be announced as soon as this week, the Wall Street Journal reported, citing an official document from the US Department of Commerce.
America is considering its response to trade complaints filed by Chinese firms and whether or not to treat China as a non-market economy in its tariff calculations, the report said. China claimed in December that WTO members must recognize it as a market economy, but Trump disagreed.