Tags: EU | China | US | Trade

China Seeks $2.4 Billion in Penalties against US at WTO

Monday, 21 October 2019 11:38 AM

BERLIN (AP) — China is asking the World Trade Organization for the right to impose $2.4 billion in annual penalties on the United States in a case over Chinese subsidies dating back years.

A document published Monday showed China has called for the matter to be considered by the WTO's Dispute Settlement Body next Monday. The matter would be referred to a WTO arbitrator if the U.S. objects to the amount China proposes.

The request stems from a July WTO appellate decision in a case dating to before the Trump administration, and unrelated to the tariffs it has slapped on Chinese goods.

Washington criticized that decision, which it said recognizes that China uses state-owned enterprises to subsidize and distort its economy but contends the U.S. must use "distorted Chinese prices" to measure subsidies.

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China is asking the World Trade Organization for the right to impose $2.4 billion in annual penalties on the United States in a case over Chinese subsidies dating back years.A document published Monday showed China has called for the matter to be considered by the WTO's...
EU,China,US,Trade
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2019-38-21
Monday, 21 October 2019 11:38 AM
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