WTO permits China a US$645m tariff weaponBloombergThe WTO granted Beijing a new tariff weapon against the US during a politically sensitive moment for US President Joe Biden, nearly one year into a tenuous truce in the trade dispute between the two largest economies. A WTO arbitrator in Geneva, Switzerland, on Wednesday said that China can retaliate against US$645 million of annual US exports as part of a decade-old trade dispute over US anti-subsidy duties on Chinese goods. The amount was much less than the US$2.4 billion that China had initially requested legal authority to target. Beijing can now request formal WTO authorization to retaliate against US goods and services, which could be granted as soon as next month. The WTO repeatedly ruled against the US and found that Washington failed to withdraw the illegal duties in a timely manner.

Source: Taipei Times January 28, 2022 02:28 UTC