China may impose $3.58 billion in annual trade sanctions on U.S.

China may impose $3.58 billion in annual trade sanctions on U.S.: WTO panel

ZURICH (Reuters) – A World Trade Organization (WTO) panel said on Friday that China could slap compensatory sanctions on U.S. imports worth $3.579 billion annually for the U.S. failure to remove anti-dumping duties, a figure that was roughly half what China had sought.

The decision came as the world’s two biggest economies try to clinch Phase 1 of a trade deal. President Donald Trump and U.S. negotiators are “very optimistic” about concluding it, White House adviser Larry Kudlow said.

In the WTO ruling, a three-member arbitration panel said Chinese exporters suffered impairment to trade valued at $3.579 billion annually. China may now ask the WTO’s Dispute Settlement Body for a green light to impose the retaliatory tariffs on imported U.S. goods valued up to that amount each year.

Reporting by Stephanie Nebehay, editing by John Miller

also read..

Hong Kong watchdog to set new crypto exchange regulations

News Editor

SWVL carried their business activities in lawful manner

News Editor

Russia-China fund seeks Chinese investors for Saudi Aramco IPO

News Editor

Azerbaijan offers Pakistan LNG over long term basis

News Editor

Yemeni’s Aramco attack cost Saudi $2 billion in oil production, FT says

News Editor

Toyota unveils $1.8 billion share buyback after strong second-quarter profits

News Editor