Market Commentary and Intraday News
China Files Dispute With WTO Against US Countervailing And Anti-Dumping Measures
247 days ago
(RTTNews) - China has notified the World Trade Organization (WTO) Secretariat of a request for consultations with the United States on countervailing and anti-dumping measures applied to a wide range of products exported by China to the U.S. Among the products cited by China, affected by the measures, are paper, steel, tires, magnets, chemicals, kitchen appliances, wood flooring, and wind towers.
WTO said in a statement on Monday that it would disclose further information on the complaints in a document to be released within the next few days.
The request for consultations formally initiates a dispute in the WTO. Consultations give the parties an opportunity to discuss the matter and to find a satisfactory solution without proceeding further with litigation. After 60 days, if consultations have failed to resolve the dispute, the complainant may request adjudication by a panel.
A majority of disputes in WTO so far in have not proceeded beyond consultations, either because a satisfactory settlement was found, or because the complainant decided for other reasons not to pursue the matter further.
The Chinese action comes on the same day the Obama administration filed a pair of new challenges to Chinese trade practices alleging subsidies to that nation's auto industry.
The United States has requested "dispute settlement consultations" at the WTO, according to the office of U.S. Trade Representative Ron Kirk.
Washington accuses the world's largest automobile producer of $1 billion in illegal subsidies for exports of cars and car parts.
China is America's most important trading partner and has the largest car market in the world.
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