China scores partial victory at WTO
July 14, 2014 Category Foreign trade, Weekly
China’s appeal to overturn a U.S. law targeting unfair trade subsidies at the World Trade Organization (WTO) has failed, although the Commerce Ministry claimed a partial victory when the WTO’s appeals panel said Washington violated trade rules by double counting the punishment on Chinese goods for being both subsidized and unfairly priced. The Commerce Ministry in Beijing said in a statement the result was “another significant victory of China’s challenge against the United States’ abuse of trade remedy measures”. The dispute was over U.S. Public Law 112-99, also known as GTX legislation, which was signed by President Barack Obama in March 2012. Beijing had complained that the law “explicitly allows for the application of countervailing measures to non-market economy countries”, saying it violated WTO trade rules. China had also claimed that the U.S. failed to investigate and avoid double remedies in some countervailing and anti-dumping duties. The WTO panel ruled in favor of the U.S. in March. China appealed and the WTO appeals body disagreed with several of the panel’s interpretations of the law, but it did not have enough information to overturn the ruling, effectively leaving the March decision in place, allowing both sides to claim victory. The Chinese Commerce Ministry statement said the annual value of trade affected was USD7.2 billion, the South China Morning Post reports.
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