China Has Lodged a Complaint Against US to WTO Over Tariffs

China Has Lodged a Complaint Against US to WTO Over Tariffs

China will file a dispute at the World Trade Organization (WTO) regarding US tariffs across approximately $263 billion worth of goods from China in annual import value, China's Commerce Ministry said September 2.

"China is extremely dissatisfied with and resolutely opposes the tariffs", the ministry added. "In accordance with relevant WTO rules, China will firmly safeguard its legitimate rights and interests", Beijing's trade ministry mentioned in a remark printed on its website online.

The world's two largest economies imposed fresh tariffs on each other on Sunday, ratcheting up a tit-for-tat tariff war that has unsettled financial markets and raised the specter of a global recession.

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The U.S. administration has also slapped 25 percent tariffs on $250 billion of Chinese goods, mainly focused on industrial equipment and machinery.

The U.S. Trade Representative office boosted Chinese tariffs on another $300 billion over the weekend.

US President Donald Trump has said he still wants ministerial-level trade talks with China to go ahead this month, as planned.

U.S. President Donald Trump last month accused Chinese President Xi Jinping of failing to meet his promises to crack down on the deluge of fentanyl and fentanyl analogues flowing into the United States.

President Donald Trump sought to prod China into doing a trade deal before the USA presidential election in November 2020, or face even more hard negotiations during his potential second term. Trade negotiations between the two countries have been at an impasse for months.

Washington has refused to approve any new judges for the body's appellate division, accusing the DSB of overstepping its authority by issuing broad rulings that Trump says violate national sovereignty.

According to Trump, his government is doing well in negotiations, although, he added, China would like to deal with a new U.S. administration to continue practices he describes as scamming the United States.

If no new judges are approved by the end of the year, the appellate branch will not have the quorum required to hear cases, due to mandatory retirements.

Nevertheless, that deal doesn't supply a broader answer to the looming WTO court docket shutdown, because it doesn't contain different nations - notably main merchants together with China, India and Japan. Catch all of the Dwell TV motion on HEARALPUBLICIST 24×7 and HEARALPUBLICIST India.

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