November 1, 2019 / 3:36 PM / 17 days ago

China may impose $3.58 bln in annual trade sanctions on US - WTO panel

ZURICH, Nov 1 (Reuters) - A World Trade Organization (WTO) panel said on Friday that China could slap compensatory sanctions on U.S. imports worth $3.579 billion annually for the U.S. failure to remove anti-dumping duties, a figure that was roughly half what China had sought.

The decision came as the world’s two biggest economies try to clinch Phase 1 of a trade deal. President Donald Trump and U.S. negotiators are “very optimistic” about concluding it, White House adviser Larry Kudlow said.

In the WTO ruling, a three-member arbitration panel said Chinese exporters suffered impairment to trade valued at $3.579 billion annually. China may now ask the WTO’s Dispute Settlement Body for a green light to impose the retaliatory tariffs on imported U.S. goods valued up to that amount each year. (Reporting by Stephanie Nebehay, editing by John Miller)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below