China may now ask the WTO’s Dispute Settlement Body for a green light to impose the retaliatory tariffs on imported US goods valued up to US$3.579 billion each year. ― AFP pic
ZURICH, Nov 1 — A World Trade Organisation (WTO) panel said today that China could slap compensatory sanctions on US imports worth US$3.579 billion (RM14.9 billion) annually for the US failure to remove anti-dumping duties, a figure that was roughly half what China had sought.
The decision came as the world’s two biggest economies try to clinch Phase 1 of a trade deal. President Donald Trump and US negotiators are “very optimistic” about concluding it, White House adviser Larry Kudlow said.
In the WTO ruling, a three-member arbitration panel said Chinese exporters suffered impairment to trade valued at US$3.579 billion annually. China may now ask the WTO’s Dispute Settlement Body for a green light to impose the retaliatory tariffs on imported US goods valued up to that amount each year. — Reuters