US President Donald Trump and Chinese Deputy Prime Minister Liu He, the country’s top trade negotiator, hold a press conference before signing a trade deal with the US and China during a ceremony at the White House Eastern House in Washington. DC on January 15, 2020
Saul Loeb | AFP | Getty Images
NEW YORK The World Trade Organization ruled Tuesday that additional tariffs imposed in 2018 by the United States on Chinese goods violated international trade rules, a blow to the Trump administration’s trade war against the world’s second-largest economy.
A three-person panel of WTO trade experts said Washington broke global rules in 2018 when it hit more than $ 200 billion in revenue for a portion of Chinese goods. As of March 2018, the US has set tariffs on $ 400 billion in Chinese exports.
“The United States has not fulfilled its burden to demonstrate that the measures are provisionally justified,” the panel said in a report. The panel provided an additional observation, saying the group was “very aware of the broader context in which the WTO system currently operates, which is one that reflects a range of unprecedented global trade tensions”.
The Chinese Embassy in Washington did not immediately respond to a request for comment from CNBC.
“The WTO multilateral trade system is essentially the foundation of international trade,” a Chinese Ministry of Commerce spokesman told reporters at a news conference.
“China has always strongly supported and maintained this cornerstone and has complied with WTO rules and decisions,” the spokesman said, adding that Beijing “hopes that the United States will fully respect the decisions of the panel of experts and the trade system.” rule-based multilateralism, take practical action to meet China and other WTO members, jointly maintain the multilateral trading system and promote the sustainable and healthy development of the world economy “.
The Trump administration has previously claimed that tariffs on China were necessary to curb Beijing’s unfair trade practices and intellectual property theft. The U.S. trade representative reiterated those claims Tuesday in the wake of the WTO ruling.
“This panel report confirms what the Trump administration has been saying for four years: the WTO is completely inappropriate to stop China’s harmful technology practices,” U.S. Trade Representative Robert Lighthizer said in a statement. “The United States must be allowed to protect itself from unfair trade practices, and the Trump administration will not allow China to use the WTO to take advantage of American workers, businesses, farmers and ranchers.”
All told, Washington has 60 days to appeal the decision under WTO rules. The move could prompt Beijing to ask the organization to adjudicate, which could last for several years.
Nearly a year ago, in a speech to the United Nations General Assembly in New York, President Donald Trump argued that the Geneva-based WTO needs “drastic change” to counter fraud by China and other nations.
“For years these abuses were tolerated, ignored or even encouraged,” Trump said in September 2019. He also said the United States would not accept a “bad deal” in trade talks with China and that he had not need an agreement before the 2020 Elections
“Hopefully we can reach an agreement that will be beneficial to both countries. But as I have made very clear, I will not accept a bad deal for the American people,” Trump said, making no reaction. by the observing Chinese delegation.
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]