!-- Javascript Ad Tag: 6454 -->

Monday, May 26, 2014

Win U.S. Automotive Trade Dispute with China

Workers at a General Motors plant in Shanghai .
Win U.S. Automotive Trade Dispute with China

A WTO panel established that the rates charged by China violated international trade provisions .

United States won the case in the World Trade Organization ( WTO ) with respect to levy duties by China against U.S. vehicle sales in the country valued at U.S. $ 5 billion .

A WTO panel on Friday ( 23/5 ) set the rates charged that China violated international trade provisions . This decision comes in the same week when the U.S. Attorney General's Office filed charges against five Chinese military staff who hacked the computer systems of American business to steal trade secrets .

Both of these developments have heightened tensions between the two giants of the world economy .
         
Panel Geneva-based WTO said China is not consistent in applying anti - dumping requirements that violate the commitments that have been given to the WTO .
         
U.S. officials say China has removed levy higher duties in December because it anticipates will be defeated in the WTO case . Officials say they are still continuing this case to obtain a precedent that such actions violate the terms of global trade .
         
The WTO allows countries to raise tariffs to prevent subsidies and dumping practices . But the U.S. government filed a complaint in 2012 accusing China of improperly levy anti-dumping duties were .
         
The U.S. government argued that the application of the additional duties was a retaliation for the U.S. government imposed penalties on Chinese tires .
         
China said , levy additional duties on imported American cars were in accordance with international law . China stressed that government aid to General Motors Corp. . and Chrysler during the ongoing financial crisis is an unfair government subsidies .
         
U.S. trade representative Michael Froman said the WTO decision will benefit automobile factory workers , amounting to nearly 850,000 people. China is the second largest export market . In 2013 , America exported cars worth U.S. $ 64.9 billion , and $ 8.5 billion to China .
         
The Obama administration is more aggressive in bringing cases to the WTO deals with China than the Bush administration , and continued to increase the pressure on other trade sectors . The U.S. trade deficit with China was the highest .VOA

No comments:

Post a Comment