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WTO suspends litigation over China 'market economy' status at Beijing's request

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WTO suspends litigation over China 'market economy' status at Beijing's request
FILE PHOTO: A logo is pictured outside the World Trade Organization (WTO) headquarters next to a red traffic light in Geneva, Switzerland, October 2, 2018. REUTERS/Denis Balibouse/File Photo   -   Copyright  Denis Balibouse(Reuters)
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GENEVA (Reuters) – The World Trade Organization has suspended litigation in a dispute over China’s status as a market economy at Beijing’s request, the panel of three adjudicators said in a statement published on Monday.

China went to the WTO in December 2016, accusing the European Union and the United States of breaking a promise to take Chinese prices at face value and treat China as a “market economy”. It only pursued the case against the EU, but asked to suspend proceedings on May 7, the panel said.

(Reporting by Tom Miles; Editing by Raissa Kasolowsky)

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