“The WTO ruled, and this time, China won!”

2022-04-22 0 By

The World Trade Organization has made a big announcement that China will be able to impose tariffs on $645 million worth of American imports, and they will be enforceable.This means that the anti-subsidy trade tariff dispute, which had lasted for 10 years, finally ended in a comprehensive victory for China, and this justice was not absent, which was also called by the British media as a major victory for China.The countervailing duty dispute originated in 2012. In order to prevent the development of China’s photovoltaic industry, the United States decided to impose comprehensive sanctions on China’s photovoltaic enterprises.Slapping hefty countervailing duties on solar panels and other related goods, ignoring evidence from companies.Korea immediately filed a complaint with the WTO in May of that year.After two reviews, the WTO ruled in 2015 that China had won the case on core issues such as public institutions.It also determined that the anti-subsidy claims made by the United States were not true and demanded that the United States correct its previous mistakes.It took another three years for the WTO to rule on the case again, finding that the United States had violated wto rules.But the United States defied the ruling and increased its tariffs at the same time.In October 2019, South Korea, which has been fed up with the United States, officially filed with the World Trade Organization (WTO) to impose $2.4 billion in trade retaliation tariffs on the United States every year, which will be reduced to $788 million annually.The United States has filed an appeal to the WORLD Trade Organization (WTO), arguing that the amount of retaliatory tariffs should not exceed $106 million.Finally, at the end of January this year, the WTO officially ruled that China’s retaliation quota is 645 million US dollars, equivalent to about 4.1 billion YUAN.As the wto’s decision is final, the U.S. cannot raise any objections.So it needs to be enforced in accordance with the ruling of the WTO.British media commented that this is a major victory for Our country in the WTO.The United States is very unhappy with the ruling, saying that China is manipulating the international organization.Obviously, this is another groundless slander and rumor making.The biden administration has long seen the trade dispute, started by the previous administration, as a lost cause.They are opposed to a long-term trade war with South Korea, but under the influence of the domestic atmosphere, they have expanded the scope of the sanctions instead of suspending them.Little do they know that the trade relationship between China and the United States has long been inseparable.It is almost impossible to decouple the relationship unilaterally.If the United States insists on suppressing China, the final increase in costs will only make the United States bear.In the end, American businesses and the American people will suffer significant economic losses.Some sources: Xinhua News Agency