Money and business

China is a complaint with “global trade” against American customs duties

The World Trade Organization said today, Wednesday, that China filed a complaint with the organization about the new customs duties imposed by the United States on the goods coming from China.
The organization said in a statement that “the World Trade Organization asked consultations on the conflict with the United States regarding the new customs duties imposed by the United States on the goods coming from China.”

Customs duties mutual

The new customs duties entered 10% imposed by the administration of US President Donald Trump on all Chinese imports on Tuesday.
China responded by announcing 15% customs duties on imports of LNG products and coal from the United States on Tuesday.
According to the World Trade Organization, “The request for consultations is an official start to consider a dispute in the World Trade Organization.”

The organization stated that “the consultations provide the two parties with the opportunity to discuss the issue and find a satisfactory solution without the need to proceed with the procedures for litigation.”
If the dispute is not resolved after 60 days, “the complainant party can request arbitration through a committee.”
After that, experts evaluate the extent of customs duties compatible with the rules of the World Trade Organization, in a measure that may take several months.
If the arbitrators judge China, Beijing, under the rules of the World Trade Organization, can impose customs duties themselves in proportion to the damage caused by it as a result of American customs duties.

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