EU-DIGEST - special edition

The European Union's top trade official said Tuesday he would "push back hard" against a global trade deal that would give China more time to shield its economy from foreign imports. A draft World Trade Organization agreement would offer China up to 15 years before it had to obey all trade liberalization rules. EU Trade Commissioner Peter Mandelson told the European Parliament's trade committee that an additional grace period for China to cut tariffs and allow more foreign competition went too far. "I cannot support such wide flexibilities for China as a newly acceded WTO member. We will push back hard on this," he said.

China was offered special treatment because it only joined the WTO in 2001. However, the world's most populous nation is different from many other emerging economies because it is a major exporter that has won sizable market share for its goods in Europe and the United States.

For the complete report from the IHT click on this link