China Complains to WTO Over US Trade Tariffs

Hershey Kisses

"China, the European Union and others have been manipulating their currencies and interest rates lower, while the U.S.is raising rates while the dollars gets stronger and stronger with each passing day - taking away our big competitive edge", Mr. Trump tweeted on July 20. "This act of abuse of safeguards not only harms the legitimate rights and interests of the Chinese side, but also affects the seriousness and authority of the WTO rules". If it fails, the case will go to a panel of experts to decide whether the trade controls are illegal.

The statement urges the U.S. to take concrete actions in line with the WTO rules and drop the "wrong practices" so that normal trade can be restored.

On May 31, Canada announced it would impose "dollar-for-dollar" tariffs on 16.6 billion Canadian dollars (12.7 billion dollars) worth of USA imports on July 1 if Washington does not drop its steel and aluminum tariff threat.

The United States and China have slapped tit-for-tat tariffs on tens of billions of dollars worth of goods from each country, with another round of levies scheduled to being next week.

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"Country was built on Tariffs, and Tariffs are now leading us to great new Trade Deals - as opposed to the awful and unfair Trade Deals that I inherited as your President", Mr. Trump tweeted. The president has also said the tariffs have been created to promote better trade deals.

After the application of these first taxes, China responded with a package of tariff countermeasures of equal weight to products of the North American nation.

Beyond tariffs, currency concerns have re-emerged as an issue in the Trump administration, and they are expected to come up during this round of talks. So far, the Trump administration has declined to give China the label, saying that while China manipulated its currency in the past, that problem had dissipated for now.

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