Categories: Business

US wins WTO ruling against China over luxury cars

The US has won a World Trade Organization ruling against China in a dispute over tariffs on American luxury cars.

A WTO panel found no basis for duties that China imposed between 2011 and 2013.

The US described it as a “significant victory”.

The US has won a World Trade Organization ruling against China in a dispute over tariffs on American luxury cars

China began tariffs on saloons and off-road vehicles with an engine capacity of 2.5 litres or more in retaliation for US trade policies.

China argued when it introduced the charges that US carmakers, such as GM and Chrysler, had received government subsidies and flooded the Chinese market with the cars, which harmed China’s own car industry.

The US said China had imposed the duties without following the rules and filed the case with the WTO.

The rate was as high as 21.5%.

US Trade Representative Michael Froman said $5 billion of exports in 2013 had been taxed.

“The message is clear. China must follow the rules, just like other WTO members,” he said.

US vehicle exports to China were worth $8.6 billion in 2013, 48% more than a year earlier. It is the largest foreign market for US automakers after Canada.

UOsr3tKO8l0
Clyde K. Valle

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.

Recent Posts

Donald Trump and Elon Musk Celebrate Election Victory at UFC 309

Image source: Wikimedia Commons President-elect Donald Trump celebrated his election victory at the Ultimate Fighting…

4 days ago

White House 2024: Donald Trump Wins, Kamala Harris Calls Him to Concede Election

Millions of voters across the US chose to return Donald Trump to the White House…

2 weeks ago

Who Won? Donald Trump Declares Victory as He Addresses Jubilant Supporters in Florida

Donald Trump declares victory in the US election as he addresses jubilant supporters in Florida.…

2 weeks ago

Stocks Soaring as Donald Trump Closes in on US Victory

Stocks around the world are rising as Donald Trump appears to be on the cusp…

2 weeks ago

Who Won? Kamala Harris Cancels Election Night Party as Path to Victory Narrows

Donald Trump has won Pennsylvania, North Carolina and Georgia and taken a lead over Kamala…

2 weeks ago

Quincy Jones Dead at 91

Quincy Jones, the celebrated musician and producer who worked with Michael Jackson, Frank Sinatra, Ray…

2 weeks ago