China Wins WTO Case to Sanction $3.6 Billion in U.S. Trade
(Bloomberg) -- China secured the World Trade Organization’s go-ahead to impose $3.6 billion in sanctions against the U.S., in a case that predates the tariff war between the world’s two largest economies but may add a layer of tension to ongoing talks.
The damages awarded, in a document released Friday on the Geneva-based organizations’ website, are the third highest in WTO history. The amount is about half of what was requested by China, which argued that some U.S. anti-dumping rules were illegal.
The case began before the 18-month-old trade war between the two nations, which has led to tit-for-tat tariffs covering some $500 billion in goods going in both directions. While the ruling deals with matters outside current negotiations to conclude phase one of a comprehensive trade deal, it gives Beijing a new -- and legal -- weapon to wield against the Trump administration if it opts to do so.
The ruling also comes as the U.S. is mounting an assault on the WTO’s dispute resolution system, with the current terms of two of the final three judges on its appellate body due to expire in December and Washington blocking new appointments. The Trump administration is likely to cite the case as an example of what it sees as the overreach of the WTO’S dispute system.
https://www.msn.com/en-us/money/markets/china-wins-wto-case-to-sanction-dollar36-billion-in-us-trade/ar-AAJGCOm?li=BBnb7Kz
Winning Trump style.
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