US trade agency says efforts to rein in China with WTO rule change are futile

© Nuthawut Somsuk

As the US seeks to reach an agreement with China on “improved” trade policies, White House staff have said attempts to rein in the country’s “mercantilist” practices through new WTO rules would be largely futile. CNBC, citing a report from the US trade representative, said it would be “unrealistic to expect success in any negotiation of new WTO rules that would restrict China’s current approach to the economy and trade in a meaningful way”. What this means for the bilateral talks – and tariffs – is as yet unclear.