AGENCIES / Pennsylvania
US President Donald Trump has said that India and China are no longer developing nations and both are taking advantage of developing nations tag from the World Trade Organization.
Addressing a gathering at Pennsylvania, Trump said India and China, the two economic giants from Asia, are no longer developing nations and they cannot take benefits from WTO. However, they are taking the advantage of a developing nation tag from the WTO, putting the US to disadvantage.
Trump, championing his America First policy, has been a vocal critic of India for levying allegedly high duties on US products. The US and China are currently engaged in a bruising trade war after Trump imposed punitive tariffs on Chinese goods. Beijing retaliated in the same manner by imposing tariffs on the American goods.
Earlier in July, Trump asked WTO to define how it designates developing country status, a move apparently aimed at singling out countries like China, Turkey and India which are getting lenient treatment under the global trade rules.