The World Trade Organization (WTO) has issued a decision on the level of countermeasures China may request in its dispute with the US regarding the countervailing duties on certain products, including steel wire from China. China had appealed to the WTO in 2012 regarding the countervailing duties in question which were imposed between 2008 and 2012.
According to the decision, China is permitted to impose retaliatory duties on US imports worth $645 million annually.
China had initially asked the WTO panel to be able to impose tariffs on US imports worth $2.4 billion and then reduced this figure to $788.75 million, SteelOrbis has learned.
Saying that the decision reinforces the need to reform WTO rules and dispute settlement, which have been used to shield China’s non-market economic practices and undermine fair, market-oriented competition, Adam Hodge, spokesperson for the US Trade Representative's Office, stated that the Biden Administration will continue to use all tools to stand up for the interests of US workers, businesses and producers.