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Fed's Bullard - U.S.-China trade relations probably had to come to a head

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By Reuters
Fed's Bullard - U.S.-China trade relations probably had to come to a head
FILE PHOTO: James Bullard, President of the Federal Reserve Bank of St. Louis, leaves the three-day "Challenges for Monetary Policy" conference in Jackson Hole, Wyoming, U.S., August 23, 2019. REUTERS/Jonathan Crosby/File Photo   -   Copyright  jonathan crosby(Reuters)

EFFINGHAM, Ill (Reuters) – St. Louis Federal Reserve President James Bullard said on Monday it was probably inevitable that the United States and China would clash on trade, given that China has not lived up to commitments made when it was allowed into the World Trade Organization.

“The Chinese were allowed into the WTO on an implicit promise that they would abide not just with the letter but with the spirit of the WTO and that they would transition towards democracy,” Bullard said. “Neither of those things have happened.”

(Reporting by Howard Schneider; Editing by Andrea Ricci)