On Monday, the WTO issued a panel report on the US imposition of countervailing duties on 22 Chinese exports worth $7.2 billion a year. The WTO backed China on many aspects and found the US measures violate WTO rules. US Trade Representative Michael Froman said on Monday that the administration is carefully evaluating its options with respect to the panel report while both sides have a right to appeal within 60 days. Sang Baichuan, director of the Institute of International Business at the University of International Business and Economics in Beijing, said that the US abuse of trade remedies in recent years was mainly driven by the pressure of enhancing employment amid slow economic recovery. Trade friction between the worlds two largest economies will remain frequent in the near future as the US employment performance far dwarfs its economic recovery ... China needs to urge the US to reduce trade remedies and turn to the WTO platform for fair and competitive trade development. Countermeasures are an option for China but both sides should eye more cooperation as they share huge mutual interests, Sang said. [email protected]
Posted on: Wed, 13 Aug 2014 16:51:20 +0000
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