US’ Denial of China's Market Economy Exalts Local Law Over International Law, MOFCOM Retorts

US’ Denial of China's Market Economy Exalts Local Law Over International Law, MOFCOM Retorts

Xu Wei

Date: Thu, 12/07/2017 - 19:40 / source:Yicai
US’ Denial of China's Market Economy Exalts Local Law Over International Law, MOFCOM Retorts
US’ Denial of China's Market Economy Exalts Local Law Over International Law, MOFCOM Retorts

(Yicai Global) Dec. 7 -- The US government submitted a statement of opposition to the World Trade Organization (WTO) on China's market economy status.

The US statement elevates the so-called six criteria in US domestic law above international law, said Gao Feng spokesman for China’s Ministry of Commerce (MOFCOM) at a regular news briefing today.

WTO rules are the international trade law system all members generally follow. The US should not ignore these international standards, Gao said.

"The WTO Dispute Settlement Mechanism held a hearing on China's appeal against the anti-dumping surrogate country approach of the European Union (EU). China fully expounded our views at the hearing. We are not clear about the US’ intentions as a third party in this case in releasing the message in such high profile a few days ago. We hope that the panel will treat the case fairly and render its judgment in accordance with international law norms. We reiterate that China will earnestly fulfill its obligations under the WTO rules, while enjoying its rights under Article 15 of the Protocol on China's accession to the WTO. As for the surrogate country approach in the anti-dumping practice of the US, China appeals to the WTO and urges some of the WTO members, including the US, to effectively and fully implement their WTO obligations and jointly safeguard the multilateral trade system," Gao said.

The essence of China-US economic and trade relations is mutual benefit and win-win. Since the successful meeting between the presidents of the two countries in Mar-a-Lago in the US state of Florida in April, the heads of state have stayed in close communication on the healthy and stable development of economic and trade relations between the two countries. President Trump just paid a successful state visit to China last month. The two leaders reached a series of important consensuses on fostering mutually-beneficial and win-win China-US economic and trade cooperation. The two countries achieved historic breakthroughs in business cooperation and industries in both stand reassured over continuing bilateral economic and trade cooperation in all fields, Gao said.

China-US economic and trade relations in the past 40 years have always advanced, notwithstanding occasional blips. China has always cherished this stable and predictable bilateral cooperation and has worked tirelessly to promote it. However, the US has recently launched a barrage of trade investigations into Chinese products and constantly conveyed negative messages that have aroused widespread concern among enterprises on both sides, especially US companies intending to expand into China, Gao added.

China believes that this approach is impractical and that expanding common interests can only occur via opening up and cooperation. China also hopes the US will truly safeguard the interests of enterprises over the long term. On the issue of handling trade frictions, China has always believed that both sides should properly manage differences and deepen mutual understanding through intensified dialog and consultation, including promoting communication and coordination between the two nations’ industries, while furthering mutually-beneficial, win-win economic and trade cooperation. China will continue to make efforts to that end and hopes the two countries will continue moving in a positive direction for the US-China relationship, Gao concluded.

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Keywords: WTO, US, Market Economy Status