China is seeking to join US-led talks aimed at updating the ageing rules on the $4tn annual trade in global services in a move that is raising concerns in Washington over Beijing’s motives.
Frustrated with a lack of progress in the World Trade Organisation, the US, the EU, and almost two dozen other largely rich-world countries last year launched the talks towards a new Trade in Services Agreement, or TiSA. The talks cover about 70 per cent of global services and are one of the main pillars of President Barack Obama’s trade strategy.
A number of meetings between US and Chinese officials have taken place in recent weeks and it is unclear whether the US would, or could, block China from taking part. China has also held talks with the EU and other participants, according to people close to the negotiations. Chinese officials could not immediately be reached for comment.