News World China seeks $2.4 billion in sanctions against U.S. in Obama-era case -...

China seeks $2.4 billion in sanctions against U.S. in Obama-era case – WTO

China is seeking $2.4 billion in retaliatory sanctions against the United States for non-compliance with a WTO ruling in a tariffs case dating to the Obama era, a document published on Monday showed.

WTO appeals judges said in July that the United States did not fully comply with a WTO ruling and could face Chinese sanctions if it does not remove certain tariffs that break the watchdog’s rules.

China, in its request posted by WTO, said: “In response to the United States’ continued non-compliance with the (WTO Dispute Settlement Body’s) recommendations and rulings, China requests authorisation from the DSB to suspend concessions and related obligations at an annual amount of $2.4 billion.”

The United States had failed to comply with the DSB recommendations and rulings within the specified period and no agreement on compensation had been reached, it said.

China went to the WTO in 2012 to challenge U.S. anti-subsidy tariffs on Chinese exports including solar panels, wind towers, steel cylinders and aluminium extrusions, exports that China valued at $7.3 billion at the time.

The duties were imposed as the result of 17 investigations begun by the U.S. Department of Commerce between 2007 and 2012.

China’s request appears on the agenda of the DSB set for Oct 28. The United States could challenge the amount of retaliatory sanctions sought, which could send the long-running dispute to arbitration.

The office of U.S. Trade Representative (USTR) Robert Lighthizer has said the WTO ruling recognised that the United States had proved that China used state-owned enterprises (SOEs) to subsidise and distort its economy.

But the ruling also said the United States must accept Chinese prices to measure subsidies, even though USTR viewed those prices as “distorted”.

China and the Trump administration are locked in a tit-for-tat trade war. White House economic adviser Larry Kudlow said on Thursday that China’s “serious commitment” to buy up to $50 billion worth of U.S. agricultural goods as part of a phase 1 trade deal would depend in part on private companies and market conditions.

U.S. President Donald Trump said on Friday he thinks a trade deal between the world’s two largest economies will be signed by the time the Asia-Pacific Economic Cooperation meetings take place in Chile on Nov. 16 and 17.

(Reuters)

Top Stories

Metropolitan of Paphos in self-isolation

Metropolitan of Paphos Georgios is in self-isolation due to the fact that he has been in contact with a COVID-19 confirmed case. The Metropolitan...

13th month salary not certain in private sector

Due to the COVID-19 pandemic many companies in the private sector are unable to pay 13th month salary to their employees who are contacting...

Fewer Cypriots now going abroad to work

Fewer Cypriots now go overseas for work while the domestic market is flooded with more and more migrants seeking a job and a better...

Health Minister says General Healthcare System upgraded with new services

Cyprus' Minister of Health Constantinos Ioannou has pointed out that yet another significant step has been taken to enrich and upgrade the healthcare services,...

Famagusta area records most positive covid cases, Limassol is second-placed

Famagusta district is of concern as regards the state of play of positive coronavirus cases since its upward trend has continued, according to latest...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...