WTO Allowed China to Impose Duties on Goods from the USA
OREANDA-NEWS. On November 1, the World Trade Organization (WTO) allowed China to retaliate against the United States of America in an amount not exceeding 3.579 billion US dollars per year.
It is specially mentioned in the WTO statement that the scope of possible measures is consistent with China’s damage from US actions and therefore should not exceed that value. The losses, according to the document, are connected with the fact that Washington has taken measures that do not comply with WTO rules in anti-dumping investigations. The WTO also noted that the size of US duties for Chinese production has become the third largest since the organization was created in 1995.
Earlier this week, US President Donald Trump announced that trade negotiations with Beijing are ahead of schedule. The head of state noted that the first stage of the agreement includes an extensive agenda. It was planned to sign it at the Asia Pacific Economic Cooperation summit in Chile, but the event was canceled because of mass protests in the country.
One of the rounds of trade negotiations took place in the first half of October. According to its results, Washington postponed the increase in import duties on Chinese goods, which was supposed to happen on October 15.
China filed a complaint with the WTO in December 2013, before the start of a trade war with the United States, due to non-compliance with anti-dumping rules by the US government regarding Chinese goods.
The trade confrontation between China and the USA lasts from July 2018 when Washington introduced 25 % duties on imports of 818 types of goods with a total volume of 34 billion dollars per year. Beijing took retaliatory measures.In September 2018, China requested WTO permission to retaliate against the United States in the amount of 7.043 billion dollars per year.