Home / Knowledge / News / Textiles / China seeks $2.4 bn in retaliatory sanctions against US

China seeks $2.4 bn in retaliatory sanctions against US

24
Oct '19
Pic: Shutterstock
Pic: Shutterstock
China recently sought $2.4 billion in retaliatory sanctions against the US for failing to comply with an old World Trade Organisation (WTO) ruling. WTO appeals judges said in July as the US did not fully comply with a WTO ruling about tariffs it put on certain Chinese products, Beijing could impose retaliatory sanctions if Washington did not remove those.

The WTO’s dispute settlement body (DSB) will reportedly review the case on October 28.

Washington has challenged the validity of the WTO ruling and could dispute the $2.4 billion in retaliatory sanctions, sending the matter to arbitration, according to a news agency report.

US officials argue WTO favourably treats China, which subsidises manufactured goods and dumps those on world markets.

The office of US Trade Representative (USTR) Robert Lighthizer has said the WTO ruling recognised that the United States had proved that China used state-owned enterprises to subsidise and distort its economy.

Meanwhile, President Donald Trump this week said efforts to end a trade conflict with China were going well. Lighthizer said the US administration still aimed to finalise a deal on its first phase in time for the Asia-Pacific Economic Cooperation meetings in Chile on November 16-17, but said there are outstanding issues to be resolved.

Deputy-level meetings took place on October 21 and Lighthizer and treasury secretary Steven Mnuchin would speak with their counterparts on October 25.

Fibre2Fashion News Desk (DS)


Interviews View All

Top executives, Textile industry

Top executives
Textile industry

In 10 years' time, everything will have the responsible factor integrated

Textile industry, Head honchos

Textile industry
Head honchos

Athleisure is the current buzzword in fashion

Darshan Mehta, Infinium Polychem

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Priyanka Salot,

Priyanka Salot

The Sleep Company was established to upgrade the sleep quality of every...

Ravi Raj Desai,

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Deepak Mundra,

Deepak Mundra

Surat-based Madhusudan Group is a vertically integrated textile...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search