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China, EU to Form Group to Modernize Global Trade Rules

(Joe McDonald – Associated Press)

China and the European Union agreed Monday to launch a group that will work to update global trade rules to address technology policy, subsidies and other emerging irritants and preserve support for international trade amid U.S. threats of import controls.

Actions such as U.S. President Donald Trump’s unilateral tariff hikes in a technology dispute with Beijing show World Trade Organization rules need to keep pace with changes in business, said an EU vice-president, Jyrki Katainen.

Katainen said Europe was not siding with Beijing in its dispute with Trump but was taking action to protect the global system of regulating free trade. He said the EU wants other governments to join the WTO group. Click here to read more.