BRUSSELS - The United States, the European Union and Japan proposed new global trade rules on Tuesday to curb subsidies they say are distorting the worldwide economy, with China their clear target.
The Phase 1 U.S.-China deal will lead to China buying more U.S. products, but not tackle hard issues such as subsidies. They also mark a note of harmony in U.S.-EU relations, strained by U.S. tariffs and disputes over aircraft subsidies and EU auto exports. Beijing has said it would be more ready to discuss industrial subsidies if talks also extended to agricultural subsidies prevalent in the west.
SOUND ECONOMICS
The WTO is a bad fucking joke. Most trade deals benefit America and America only.
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