Washington/Tokyo/Beijing: The US, Japan and EU have given strong signals of joining forces against China, the world’s largest trading nation. It is believed that the purpose behind it is to exert additional international pressure on China over issues such as its excessive production in various sectors including steel, its government subsidies and the restrictions over technology imposed on foreign companies. The US’s decision to cooperate with EU and Japan, at a time when it has stepped out of various international organisations and trade agreements, is noteworthy.
Representatives of 164 nations have participated in the World Trade Organisation’s Ministerial Conference being held in Argentina. China’s trade policies are set to be targeted at this conference. While the US and Japan have undertaken a distinct lead for it, the EU has corroborated their stance. U.S. Trade Representative Robert Lighthizer, Japan’s Trade and Industry Minister Hiroshige Seko and EU Trade Commissioner Cecilia Malmstrom are to hold an independent meeting on Tuesday. In this meeting, a joint resolution would be passed against China’s trade practices, indicate sources.
In the past few years, China’s excessive production in different sectors including steel has given a major blow to many nations including the US, Europe and Japan. In spite of being warned several times by these nations, there have been no major changes in China’s policies. Therefore, efforts are now being made to add pressure on China at an international level. The meeting between the US, EU and Japan has been considered an important step in this direction.
While the US has individually initiated action against China, it has also hinted at possible sanctions. Whereas, EU and Japan through the World Trade Organisation and other international organisations, have insisted upon taking action against China. It is believed that these two nations would force the US to participate in taking joint action at an international level. Analysts have claimed that the collective pressure enforced by the US, EU and Japan, by demonstrating their alliance, would force China to rethink their policies.
The US had sided with Europe in the case registered by the EU against China in the World Trade Organisation (WTO). At the time, the US had denied the significant ‘Market Economy’ status recognition to China. The EU and Japan made an announcement last week of the successful completion of the talks about a trade agreement. Taking these factors under consideration, it is believed that the US, EU and Japan would be able to successfully maintain their alliance against China.
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