Geneva – China wants to raise new punitive tariffs on U.S. exports worth 2.4 billion dollars in a subsidy dispute that has been brought before the World Trade Organisation (WTO), a document said.
This is according to a document that was published Monday at the WTO seat in Geneva.
In a dispute that started in 2012, China complained about duties that Washington had imposed to offset Beijing’s alleged subsidies for state-owned companies.
After WTO arbitrators found that the U.S. measures were not in line with international trade rules, Washington adapted its tariffs.
However, China was not satisfied and WTO arbitrators confirmed in July that Washington had not adequately implemented earlier rulings.
According to WTO rules, Beijing is now entitled to retaliate with tariffs of its own.
A WTO body will deliberate China’s billion-dollar proposal next Monday, before a WTO makes the final decision on the value of the Chinese tariffs. (Reuters/NAN)