WTO = World Trade Organization says that China imposes a retaliatory tariff equivalent to about 73 billion yen on the United States, saying that the tariffs that the United States has imposed on metal products and solar panels imported from China are unreasonable. We have issued an arbitration decision to admit.
In the United States, iron and aluminum products imported from China are cheap with subsidies from the Chinese government, and it is said that it is damaging the American industry, against Chinese metal products and solar panels. Since 2007, we have imposed a wide range of tariffs.
In response, China filed a lawsuit with the WTO in 2012 for violating international trade rules.
The WTO was in the process of hearing, but in 2019 it finally acknowledged China's claim and was considering a significant amount of tariffs that China could impose as a countermeasure against the United States.
As a result, the WTO issued an arbitration award on the 26th, allowing China to impose retaliatory tariffs on the United States of up to about 640 million dollars a year, or about 73 billion yen in Japanese yen.
The U.S. and China have brought about 40 trade disputes to the WTO so far, but many are in dispute, including those over the tariff surcharges imposed by the former Trump administration. ..Keywords: