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China Exposes The US "Violation Of Rules" | Accuses The US For Unfair Misconduct

China Exposes The US "Violation Of Rules" | Accuses The US For Unfair Misconduct

#china #economy #market

In the latest news, the United States has taken a big step by introducing initial anti-dumping tariffs on tin-plated steel imports from three countries. But here's the twist. China is in the spotlight, facing incredibly high tariff rates that have surprised many Chinese experts. They argue this might not be playing fair in the world of global trade.

What's even more interesting is that the US government is being accused of playing a bit of a double-standard game. While it's pointing fingers at China, it's cherry-picking a recent World Trade Organization report, which has left a lot of people scratching their heads. It's a tale of seeming inconsistencies in international trade politics.

China, once again, finds itself in the spotlight with significantly higher tariffs. The highest one, a whopping 122.5 percent, is slapped on tin mill steel from China, including big players like Baoshan Iron and Steel.

Meanwhile, Germany is hit with a 7.02 percent tariff, and Canada gets a 5.29 percent tariff. Now, you might wonder why the difference? The US Commerce Department says it's because a major Chinese producer didn't cooperate during their investigation, leading to what they call an "adverse inference" determination. Others couldn't prove they weren't connected to the Chinese government.

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But China's share of US imports is about 14 percent, while Canada and Germany together make up roughly 30 percent. Yet, China faces a massive 122.5 percent tariff, which is ten times higher than what the other two countries are dealing with.

Critics say this doesn't just bend the rules of the usual anti-dumping investigation; it bends the very principles of free trade, fair competition, and equal negotiation outlined by the World Trade Organization.

The US's steel and aluminum tariffs, especially the hefty ones targeting Chinese tin-plated steel, are causing ripples in the global trade pool.

There's growing concern about whether these moves are following the rulebook and if they might shake up the very foundations of trading principles, as pointed out by independent global strategy analyst, Chen Jia.

In recent news, the United States has once again taken a big step in the world of international trade. This time, they've decided to add more tariffs all on their own, and it's raising some eyebrows because it might break the trade rules. Now, it's important to note that this move comes after the US criticized China earlier in a different trade argument, without mentioning the World Trade Organization's name every time.

This all started when a report from a dispute settlement panel favored the United States. Without wasting any time, US officials used this report to criticize China. They said that China's not playing by the rules, they're complaining about China in international trade groups while also slapping their tariffs on them.

On the other side of the ring, Chinese officials and experts didn't take kindly to these US claims. They called it hypocrisy, saying the US only follows the rules when it suits them.
According to China's Commerce Ministry, those tariffs they slapped on US steel and aluminum back in 2018 were completely legit and meant to protect their interests.

Tu Xinquan, a big shot in the China Institute for WTO Studies, says the US is acting like a schoolyard bully in the world of trade.Going back a bit, in 2018, the Trump gang used "national security" as their excuse to put tariffs on steel and aluminum, known as Section 232 tariffs. But that move got a lot of countries, including China, angry. They all complained.

Fast forward to December 2022, and the organization said, that those tariffs the US put on in 2018 were against the rules. They suggested the US follow the rules. But guess what? The US hasn't done anything about it yet.

Since 2018, the US has been throwing sanctions at different countries, including China. This has made things tough for Chinese industries, and it's making people wonder if trade rules are fair, says economist Tian Yun in Beijing.

So, the US used these tariffs on steel and aluminum to stay ahead in making stuff. But guess what? These US products aren't always the best bang for the buck compared to Chinese ones in the global market.

Even though the US tried to pull away from global supply chains, it hasn't completely changed its factories. That's why these actions might make things more expensive in the US and hurt its economy.
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28 сентября 2023 г. 1:00:05
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