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Report – US wins WTO fight with China over automobiles

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Report – US wins WTO fight with China over automobiles

According to a source that has knowledge of the matter, a World Trade Organization dispute with China over cars and auto parts was ruled in favor of the United States.

The complaints against the Asian nation, which overtook the US and is today the world’s biggest single automotive market, was filled two years ago and today in Washington the government is set to announce the victory, according to the person, who opted to remain anonymous.

The Geneva-based WTO organization received the complaint from the President Barack Obama’s administration back in 2012, with the US aiming to fight Chinese import tariffs set on automotive imports, with a separate complaint also alleging the Asian country is also unfairly favored with subsidies its car and auto parts producers.

The July 2012 filling sought to offset for the United States costs of more than $3 billion in import taxes set to automotive imports to China, but the Beijing central government countered by saying the Americans gained additional benefits from the US government subsidies, while also selling the goods in China with a smaller than real life value, in a practice called dumping. Then, two months later, the US argued that the Chinese were the ones subsidizing the car and parts producers in a violation of the global trade rules.

Via Bloomberg

by Aurel Niculescu (my Google+) - Friday, May 23rd, 2014 - filed under Industry, News. Image credit: .
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