Canada to Propose WTO Reform Amid U.S. Protectionism

The transcript discusses the impact of the Trump administration's decision to block the reappointment of the WTO Appellate Body, which has stalled WTO operations. It highlights the potential consequences of a US withdrawal from the WTO, which could be more significant than the US-China trade war. The transcript also covers China's request to the WTO for permission to retaliate against the US for not complying with a ruling on anti-dumping duties. The escalating trade war between the US and China is examined, with potential economic impacts such as job losses in China if the US imposes further tariffs.

What was one of the main actions taken by the Trump administration that affected the WTO?

• Reducing tariffs on Chinese imports

• Signing a new trade agreement with Canada

• Increasing tariffs on European goods

• Blocking the reappointment of the WTO Appellate body

What did China request from the WTO in response to the US not complying with a ruling?

• An increase in export quotas

• Permission to impose retaliatory duties

• A reduction in tariffs on Chinese goods

• A new trade agreement with the US

What was the US accused of improperly imposing on Chinese products?

• Subsidies

• Anti-dumping duties

• Import quotas

• Export restrictions

What economic impact could the US-China trade war have on China according to JP Morgan?

• Increase in GDP by 5%

• Loss of up to 700,000 jobs

• Reduction in export tariffs

• Increase in foreign investments

What action might China take in response to US tariffs?

• Increase foreign aid

• Devalue the yuan

• Reduce domestic taxes

• Sign a peace treaty