China

The China Chamber of International Commerce said on Wednesday that China has lived up to its World Trade Organization commitments and that the U.S. has improperly included the country’s implementation of dispute rulings, or lack thereof, as evidence of non-compliance.

“The darkening outlook for trade is discouraging but not unexpected. Beyond their direct effects, trade conflicts heighten uncertainty, which is leading some businesses to delay the productivity-enhancing investments that are essential to raising living standards.”

Despite an improving regulatory environment in China, U.S. companies in Shanghai are growing increasingly pessimistic about their business prospects due to an economic slowdown and rising trade tensions between the U.S. and China, according to a report issued this month by American Chamber of Commerce in Shanghai.

China has proposed new language on electronic commerce in negotiations at the World Trade Organization, suggesting that members be prevented from limiting or blocking trade in information and communications technology equipment and products -- a proposal that comes after the U.S. imposed such restrictions on Chinese telecom company Huawei.

At the UN, Trump maintains that China is clamoring to strike a deal with the U.S.

The European Union last week rebutted several arguments the U.S. has advanced to defend its Section 301 tariffs on Chinese goods, contending in Geneva that they undermine the World Trade Organization’s dispute settlement system.

Products exempted include Christmas tree lighting, bicycles, dog leashes and plastic straws.

“The bilateral tariff measures introduced by the United States and China since the start of 2018 will continue to exert a significant drag on global activity and trade over the next two years, particularly given the additional uncertainty that they create.”