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WTO paves way for China to seek sanctions against U.S. [View all]
Source: Reuters
BUSINESS NEWS AUGUST 15, 2019 / 2:38 PM / UPDATED 17 MINUTES AGO
WTO paves way for China to seek sanctions against U.S.
Stephanie Nebehay
3 MIN READ
GENEVA (Reuters) - The World Trade Organization (WTO) on Thursday adopted final findings against U.S. duties imposed on a range of Chinese imports, effectively giving Beijing a green light to seek compensatory sanctions.
The case turned on U.S. calculation of countervailing duties in 17 investigations begun by the Department of Commerce, which found that Chinese state-owned and state-invested enterprises provided steel and other inputs to domestic firms for less than adequate remuneration. Washington deems them illegal subsidies.
The world’s two largest economies are locked in a wider trade dispute but are seeking to reach a deal to lessen simmering tensions.
The U.S. delegation said it did not view the WTO findings as valid and was not joining a consensus on the Dispute Settlement Body’s adoption of the WTO Appellate Body’s report last month that largely upheld an earlier ruling, trade sources said.
The WTO appeals body had applied “the wrong legal interpretation in this dispute”, while China continues to be the “serial offender” of the WTO’s subsidies agreement, the U.S. delegation said in a text seen by Reuters.
-snip-
WTO paves way for China to seek sanctions against U.S.
Stephanie Nebehay
3 MIN READ
GENEVA (Reuters) - The World Trade Organization (WTO) on Thursday adopted final findings against U.S. duties imposed on a range of Chinese imports, effectively giving Beijing a green light to seek compensatory sanctions.
The case turned on U.S. calculation of countervailing duties in 17 investigations begun by the Department of Commerce, which found that Chinese state-owned and state-invested enterprises provided steel and other inputs to domestic firms for less than adequate remuneration. Washington deems them illegal subsidies.
The world’s two largest economies are locked in a wider trade dispute but are seeking to reach a deal to lessen simmering tensions.
The U.S. delegation said it did not view the WTO findings as valid and was not joining a consensus on the Dispute Settlement Body’s adoption of the WTO Appellate Body’s report last month that largely upheld an earlier ruling, trade sources said.
The WTO appeals body had applied “the wrong legal interpretation in this dispute”, while China continues to be the “serial offender” of the WTO’s subsidies agreement, the U.S. delegation said in a text seen by Reuters.
-snip-
Read more: https://www.reuters.com/article/us-usa-trade-china-subsidies/wto-paves-way-for-china-to-seek-sanctions-against-u-s-idUSKCN1V527G
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