US, China clash over market economy status

Geneva

THE United States warned China on Thursday that it had not done enough to qualify for market economy status, especially in steel and aluminium, sowing the seeds for a trade battle between Washington and Beijing at the end of 2016.

Upon China's admission to the World Trade Organization (WTO) in 2001, it was told by other members that they would not use its published, state-controlled prices to judge whether or not it was "dumping"exports unfairly in their markets, but rather "surrogate" prices reflecting what it should be charging without state subsidies.