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China can hit the US with sanctions worth $ 3.6 billion

China can impose tariffs on American goods of up to $3.6 billion said the World Trade Organization due to the US government’s failure to abide by anti-dumping rules in certain Chinese products. The apex body announcement is sure to boost the Chinese government confidence as its ongoing war dispute continues with the US.

The announcement from the apex trade body comes after a case was filed almost six years ago by the Chinese seeking relief of $ 7 billion in compensation. It means that now China can impose much more tariffs on US goods than it was previously allowed to under the WTO rules. Now the Chinese manufacturers could target the US markets and try to enter the various sectors by making targets.

In may 2017 a WTO decision was also ruled in favour of China in which more than 40 anti-dumping rules were violated by the Chinese and the US accused them of selling products below market value. However, the arbitrator at the WTO awarded its decision in China’s favour because around 25 Chinese products like diamond saw blades, furniture, various steel items, solar panels, and automobile tires were affected by the anti-dumping measures of the US.

The decision comes after the US had won a major case against the European Union for giving subsidies to Airbus which has allowed the US to slap a $7.5 billion tariffs across various European goods.

That was the WTO’s biggest award to a country in the apex trade body’s history which is almost a quarter-century old. The decision on Friday was ranked as the third-largest.

These tariffs are allowed by the WTO to maintain equality in international trade; other tariffs have been imposed by the Trump administration imposed tariffs unilaterally without the consent from the WTO.

Harry Cabana
Harry Cabana Subscriber
CONTENT WRITER At The News Magazine

From initially working as a freelance to test his writing skills to being a full-fledged Content Writer, Harry Cabana has earned a vital place in our team. He has become a pro in writing articles and blogs relating to the world of business. Harry holds the responsibility to write about all comprising, and not restricted to, mergers & acquisitions, recent trends, agreements & deals, events, and much more. In free time, Harry  likes to spend some time with elderly people and learn new things from their life experiences.

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