Economy

U.S. violated trade rules with tariffs against China: WTO

U.S. violated trade rules with tariffs against China: WTO”

The World Trade Organization ruled on Tuesday that tariffs imposed by the United States on more than $200 billion of Chinese products in 2018 were inconsistent with global trading rules.

"Panel recommends that the United States bring its measures into conformity with its obligations.", the report said.

But the United States responded defiantly, blasting the organisation as "completely inadequate" in holding Beijing accountable.

China's Ministry of Commerce hailed the decision, expressing hope that the USA would "respect the rulings of the WTO" and "take practical actions" to bring its policies into line with the ruling.

The Trump administration, which has repeatedly criticised the WTO, may appeal the decision.

Beijing and Washington reached a partial truce earlier this year with the signing of their "phase one" trade deal. He said the USA had presented "extensive evidence" of China's intellectual property theft and the WTO has offered no fixes for it. That's because the Trump administration has already paralyzed the WTO's appellate body, a tactic that has rendered toothless the world's foremost arbiter of trade.

The US said the duties were a response to China's state-sanctioned technology theft, subsidies and other "unfair practices" and allowed under 1970s-era trade rules.

More news: Bale offer ready, Sancho fears, United make Reguilon demand to Real

The WTO panel ruled that the USA measures violated longstanding global trade rules because they only applied to products from China, and that Washington had not adequately substantiated its claim that the Chinese products hit with the extra duties had benefited from the allegedly unfair Chinese practices.

China had argued the USA tariffs violated GATT's most-favored treatment provision because they did not apply equally to other WTO member countries.

The decision marks the first time the Geneva-based trade body has ruled against a series of tariffs that President Donald Trump's government has imposed on a number of countries, allies and rivals alike.

The Trump administration has justified the sanctions under Section 301 of the Trade Act of 1974, once a common tool used by the USA government to impose sanctions - and recently revived by Trump.

In its decision, the WTO ruled against the Trump administration's argument that China has engaged in practices harmful to USA interests, on issues including intellectual property theft, technology transfer and innovation.

Though the use of Section 301 isn't unprecedented, the provision largely fell out of favor in the 1990s after the USA agreed to first follow the WTO's dispute settlement process before it triggered any retaliatory trade actions according to Section 301. That is because the Trump administration has threatened to use Section 301 to hit European goods with levies in retaliation over the taxation of digital companies in the EU.



Like this

loading...
loading...

Latest


15 September 2020
Israel announces three-week national lockdown as COVID cases skyrocket
In total, there have been 157,000 coronavirus cases in Israel , of which the majority have recovered, and 1,119 deaths. Officials had feared that large gatherings during the upcoming holiday of Rosh Hashanah could trigger new outbreaks.

15 September 2020
Pierre-Emerick Aubameyang signs new three-year Arsenal contract
Arsenal brought in Mikel Arteta to replace Unai Emery during December of previous year and since then, the Gunners have moved mostly forward.

15 September 2020
Israel Top Model Bar Refaeli Sentenced In Tax Evasion Case
BERLIN, GERMANY-MAY 23: Model Bar Refaeli attends the Mazda Spring Cocktail at the Sony Center on May 23, 2019 in Berlin, Germany. Rafaeli and her mother were also ordered to pay a $1.5 million additionally to the millions of back taxes owed to the state.

15 September 2020
John Boyega Steps Down as Jo Malone Brand Ambassador
It added: "We are taking this misstep very seriously and we are working together as a brand to do better moving forward". The film celebrated my personal story- showcasing my hometown, including my friends and featuring my family.

15 September 2020
Smoke from west coast wildfires now stretching into GTA
He told an event in DE that four more years of his opponent in the White House would see "more of America ablaze". More than 4,000 homes and other structures have been incinerated in California alone over the past three weeks.

15 September 2020
Trump HHS spokesperson Michael Caputo deletes Twitter account after late-night rant
The panel is also demanding documents from the department, including communications sent or received by Redfield, Azar, Caputo and Alexander regarding the MMWR and other matters.

15 September 2020
Coronavirus: 208 new cases announced including 108 in Dublin
Three ZIP codes in McHenry County (61038, 60135 and 60072) have reported five cases or fewer, according to the health department. There are now 246 people in hospitals with COVID-19 related complications, of which 90 people are in intensive care units.

15 September 2020
Family of Carole Baskin’s missing ex-husband airs advert during DWTS
As for her performance, no opportunity was missed as Baskin danced the Paso Doble to " Eye of the Tiger ", which was very fitting. It's going to be a wild ride, and Don Lewis ' family just came through with an update that will convince you to tune in tonight.

15 September 2020
Aliens Exist? Astronomers Detect Potential Signs of Life on Venus
Top image: Image of Venus, observed in the 365nm waveband by the Venus Ultraviolet Imager (UVI) on board the Akatsuki probe. The phosphine could be just a waste product, but other scientists have suggested purposes like warding off rival bacteria.

15 September 2020
Bucks tell Giannis Antetokounmpo they will spend to build around him
On Instagram, Antetokounmpo follows only his family, his girlfriend and an account he and his girlfriend made for their dog. The report also says the Bucks plan to bring back coach Mike Budenholzer, who has been at the helm in Milwaukee since 2018.