Home breadcru News breadcru Policy breadcru WTO allows compensatory tariffs by China on US; 'disappointing': USTR

WTO allows compensatory tariffs by China on US; 'disappointing': USTR

31 Jan '22
1 min read
Pic: Maxopphoto | Dreamstime.com
Pic: Maxopphoto | Dreamstime.com

The World Trade Organisation (WTO) recently authorised China to impose $645 million worth compensatory tariffs against the United States. Terming the decision ‘deeply disappointing’, the office of US trade representative (USTR) said the decision ‘reinforces the need to reform’ WTO rules that had been used to ‘shield China’s non-market economic practices and undermine fair, market-oriented competition’.

China approached the WTO in 2012 to challenge anti-subsidy tariffs the United States imposed between 2008 and 2012 on 22 Chinese products ranging from solar panels to steel wire.

The decade-long case involving alleged subsidies has centred on whether the United States could treat Chinese firms in which the government owns a majority stake as controlled by the state.

“The Biden Administration will continue to use all our tools to stand up for the interests of America’s workers, businesses, farmers and producers, and strengthen our middle class,” USTR said in a statement.

ALCHEMPro News Desk (DS)

Get Free Weekly Market Insights Newsletter

Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!