WTO paves way for Chinese sanctions against U.S. over Obama-era tariffs
- 5 years ago
The latest ruling by the World Trade Organization... has opened the door for possible sanctions by China in response to U.S. tariffs,... because they break the WTO rules.
Our Choi Si-young has this report.
On Tuesday, the WTO's Appellate Body ruled... that the U.S. violated its subsidies and countervailing measures agreement.
In 2012, China took to the WTO and contested U.S. anti-subsidy tariffs on its exports,... such as solar panels, wind towers, steel cylinders and aluminum extrusions.
In the ruling, the Appellate Body said that the U.S. must accept Chinese prices to measure subsidies, even if the U.S. sees them as "distorted."
The United States Trade Representative released a statement, saying the ruling "ignores the findings of the World Bank, OECD working papers, economic surveys and other objective evidence all cited by the U.S."
China' commerce ministry also posted comments on its website, saying the ruling shows the U.S. had "repeatedly abused trade remedy measures, which seriously damaged the fairness and impartiality of the international trade environment.”
On Monday, U.S. President Donald Trump admitted the trade war between Washington and Beijing has weakened his personal friendship with Chinese President Xi Jinping.
According to Politico, Trump bemoaned during a recent White House event, that Washington has been losing an estimated eight-hundred billion U.S. dollars a year to China.
If China decides to impose sanctions based on the latest WTO ruling, it needs to enter a new round of legal measures over the value of damage to its trade.
Choi Si-young, Arirang News.
Our Choi Si-young has this report.
On Tuesday, the WTO's Appellate Body ruled... that the U.S. violated its subsidies and countervailing measures agreement.
In 2012, China took to the WTO and contested U.S. anti-subsidy tariffs on its exports,... such as solar panels, wind towers, steel cylinders and aluminum extrusions.
In the ruling, the Appellate Body said that the U.S. must accept Chinese prices to measure subsidies, even if the U.S. sees them as "distorted."
The United States Trade Representative released a statement, saying the ruling "ignores the findings of the World Bank, OECD working papers, economic surveys and other objective evidence all cited by the U.S."
China' commerce ministry also posted comments on its website, saying the ruling shows the U.S. had "repeatedly abused trade remedy measures, which seriously damaged the fairness and impartiality of the international trade environment.”
On Monday, U.S. President Donald Trump admitted the trade war between Washington and Beijing has weakened his personal friendship with Chinese President Xi Jinping.
According to Politico, Trump bemoaned during a recent White House event, that Washington has been losing an estimated eight-hundred billion U.S. dollars a year to China.
If China decides to impose sanctions based on the latest WTO ruling, it needs to enter a new round of legal measures over the value of damage to its trade.
Choi Si-young, Arirang News.