A Chinese commerce ministry official expressed concern on Wednesday regarding Washington's possible withdrawal from the WTO's TRIPS deal (Agreement on Trade-Related Aspects of Intellectual Property Rights).
The official also noted that a new system that can identify what states should be labeled as "developing" by taking into account the size and the structure of their economies should be introduced by the World Trade Organization.
A number of officials have been critical of the WTO, including US President Donald Trump. They have claimed that the international organization undermines the effectiveness of the global trade system due to the fact that WTO member states are able to identify themselves as developed or developing countries, which grants them special treatment.fresh 10 percent tariffs on $200 billion in Chinese goods that will take effect on September 24. On January 1, the tariffs are expected to grow to 25 percent.
In March, the trade row between Washington and Beijing erupted following US President Donald Trump's resolution to fix the US trade deficit with China by imposing tariffs on imported steel and aluminum.
Since then, China and the United States have imposed numerous import duties on each other.