India, China no longer 'developing nations', won't let them take 'advantage' from WTO: US President Donald Trump

US President Donald Trump has said that India and China are longer "developing nations" and were "taking vant" of tag from WTO and asserted that he will t let it happen anymore. 

Trump, championing his 'America First' policy, has been a vocal critic of India for levying "tremendously high" duties on US products and has described country as a "tariff king".

US and China are currently engd in a bruising tre war after Trump imposed punitive tariffs on Chinese goods and Beijing retaliated. 

Earlier in July, Trump asked World Tre Organisation to define how it designates developing-country status, a move apparently aimed at singling out countries like China, Turkey and India which are getting lenient treatment under global tre rules. 

In a memorandum, Trump h empowered US Tre Representative (USTR) to start taking punitive actions if any vanced ecomies are inappropriately taking benefits of WTO loopholes.

dressing a garing at Pennsylvania on August 13, Trump said India and China   two ecomic giants from Asia  are longer developing nations and as such y cant taken benefit from WTO. 

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However, y are taking vant of a developing nation tag from WTO, putting US to disvant, he said.

"y (India and China) were taking vant of us for years and years," Trump said.  

Geneva-based WTO is an intergovernmental organisation that regulates international tre between nations.

Under global tre rules, developing countries claim entitlement to longer timeframe for imposition of safeguards, generous transition periods, softer tariff cuts, procedural vants for WTO disputes and ability to avail mselves of certain export subsidies.

Trump expressed hope that WTO will treat US "fairly". 

He said WTO views certain countries like China and India as "y're growing". 

"Well, y've grown," he said and warned that US will t let such countries to take vant of WTO.

"We're t letting that happen anymore...Everybody is growing but us," he said. 

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