Beijing Demands $2.4BN In Sanctions Against US Over Obama-Era WTO Complaint
In an unrelated case before the WTO that dates back to the Obama era and has nothing to do with the US-China trade beef, Beijing is seeking $2.4 billion in retaliatory sanctions against the US for non-compliance with a WTO ruling, Reuters reports.
A WTO appeals judge ruled back in July that the US hasn’t complied with a demand to remove sanctions on solar panels, wind towers, steel cylinders and aluminum extrusions. Because of this, it could face Chinese sanctions.
Reuters: #China seeking $2.4B in retaliatory sanctions against #US for non-compliance with #WTO ruling in tariffs case dating to Obama era – document
— Vincent Lee (@Rover829) October 21, 2019
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In a request posted by the WTO ahead of a dispute-settlement meeting planned for Oct. 28, China said: “In response to the United States’ continued non-compliance with the DSB’s recommendations and rulings, China requests authorization from the DSB to suspend concessions and related obligations at an annual amount of $2.4 billion.”
So far, it appears this spat has nothing to do with the negotiations over ‘Phase 1’ of the trade deal between the US and China, as trade delegations from both sides are preparing to meet in the coming weeks.
Tyler Durden
Mon, 10/21/2019 – 05:38
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