Day 424: September 2, 2019 – China lodges WTO tariff case against the US
China has lodged a complaint against the US over import tariffs affecting US$300 billion of Chinese exports, according to an announcement made by China’s Ministry of Commerce. This is the third lawsuit that China has brought to the WTO challenging US tariffs against Chinese imports.
Under WTO rules, Washington DC has 60 days to try to settle the latest dispute. The US previously published a written defense for the first of the three legal cases brought by China, asserting that the current set of tariffs should not be judged at the WTO.
Day 487: November 1, 2019 – China wins WTO case, able to sanction US$3.6 billion worth US imports
The World Trade Organization (WTO) said that China can impose compensatory sanctions on US imports worth US$3.6 billion for the US failure to abide by anti-dumping rules on Chinese products. The announcement centers on a WTO case that originated nearly six years ago, long before the trade war.
According to news sources, the US is disappointed in the decision and a US official responded by saying that the arbitration panel “overstates the amount of the impact on China” and that the WTO’s approach had “no foundation in economic analysis.”
Day 526: December 13, 2019 – US, China agrees to ‘phase one deal’ just before next tariff hike
China and the US announced that they had reached a phase one trade deal, just prior to new tariffs coming into effect on next days that would have affected the mass of consumer goods, including popular electronics like smartphones and laptops.
The US has agreed not to proceed with 15 percent tariffs on US$160 billion worth of consumer goods scheduled to take effect December 15, and will reduce the September 1 tariffs on US$120 billion of Chinese goods – halving it from 15 to 7.5 percent. However, the 25 percent tariffs on US$250 billion of Chinese imports will maintain, and further reductions will be linked to progress in future trade negotiations.
China, on its part, has agreed to increase the purchase of US goods and services by at least US$200 billion over the next two years, suspend retaliatory tariffs also scheduled for Sunday, implement intellectual property safeguards, and have a tariff exclusion process in place. It appears that among its potential purchases, China will import US agricultural products worth US$40 billion to US$50 billion – in each of the next two years.
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