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Professor Liao FanAnswers Questions about Chinese-US Trade Friction in an Interview by the People’s Daily

Currently the Chinese-US trade friction has become the focus of attention of the international community. How to understand this trade friction? What impact does it have on the Chinese, US, and even global economies? Will the tariff war continue to escalate? And what is the future trend of development of the Chinese-US trade relation? To answer these questions, the People’s Daily (Overseas Edition) interviewed a number of experts from CASS and University of International Business and Economics, including Professor Liao Fan, a research fellow at CASS Institute of International Law.

In the interview, Professor Liao pointed out that the US, by starting the trade war against China, has posed a challenge to global trade rules. At present, China should adhere to the rule-based multilateral trade system, which was established under the US dominance. The WTO provide a fair framework for the resolution of trade disputes between its members and a platform of negotiation for coping with newly emerged problems in international trade. The unilateral action taken by the US against China and other WTO members has apparently violated the existing rules of the WTO.