28-September-2020
Corporate News
 
US violated international trade rules with tariffs on China, says WTO
16-Sep-2020

The World Trade Organization undercut the main justification for US President Donald Trump’s trade war against China, saying that American tariffs on Chinese goods violate international rules. A panel of three WTO trade experts on Tuesday said the US broke international rules when it imposed tariffs on Chinese goods in 2018. Washington has imposed levies on more than $550 billion in Chinese exports. The panel said in its report “that the United States had not met its burden of demonstrating that the measures are provisionally justified.” While the ruling bolsters Beijing’s claims, Washington can effectively veto the decision by lodging an appeal at any point in the next 60 days. That’s because the Trump administration has already paralyzed the WTO’s appellate body, a tactic that has rendered toothless the world’s foremost arbiter of trade.

News Source:- https://www.business-standard.com/article/international/us-violated-international-trade-rules-with-tariffs-on-china-says-wto-120091600114_1.html