Sunday, 05 April 2020 | 13:41 WIB

China Mulls Slapping US with Annual Sanction of US$ 3.579 Billion

China Mulls Slapping US with Annual Sanction of US$ 3.579 Billion (fairobserver)

ZURICH, NETRALNEWS.COM - The World Trade Organization (WTO) panel said on Friday (1/11) that China could impose compensation sanctions on United States (US) imports worth US $ 3.579 billion annually for US's failure to remove anti-dumping duties, a figure that is roughly half of what is sought by China.

The decision came when the two biggest economies in the world tried to reach Phase 1 of the trade agreement.

President Donald Trump and US negotiators were "very optimistic" about concluding it, White House adviser Larry Kudlow said in a Reuters report quoted by Antara on Saturday (11/02/2019).

In the WTO ruling, the three-member arbitration panel said Chinese exporters experienced a decline in trade value of US $ 3.579 billion per year.

China can now ask the WTO Dispute Settlement Agency for a green light to charge retaliation rates for US imported goods valued at that amount each year