By IndraStra Global News Team
Image Attribute: U.S. President Donald Trump, left, poses for a photo with Chinese President Xi Jinping during a meeting on the sidelines of the G-20 summit in Osaka on June 29, 2019. Photographer: Susan Walsh/AP
On September 2, 2019, China filed a third lawsuit against the United States at the World Trade Organization (WTO) to challenge US President Donald Trump's China-specific tariffs, just one day after the Washington's implementation of the additional 15-percent tariffs on US$ 300 billion worth of Chinese imports (including footwear, smart watches and flat-panel televisions). In retaliation, China began imposing new duties on US crude oil, the latest escalation in their trade war.
According to Meg Shen and Tom Miles of Reuters, "Under WTO rules, Washington has 60 days to try to settle the latest dispute. Then China could ask the WTO to adjudicate, a process that would take several years.It could end with China gaining WTO approval to take trade sanctions, if the United States is found to have broken the rules."
According to a statement released by the China's Ministry of Commerce, "the tariffs imposed by the United States severely violated the consensus reached by the two heads of state in Osaka." The statement further added that China is extremely dissatisfied with and resolutely opposes the tariffs. "China will firmly safeguard its own legitimate rights and interests and resolutely uphold the multilateral trading system as well as the international trade order in line with WTO rules."
Till now, both the countries have imposed higher taxes on about two-thirds of the goods they import from each other. Americans are pressing Chinese to narrow down the existing trade surplus and roll back plans for government-led creation of global competitors in robotics and other industries. Last Friday, US published reasons behind its adoption of such tariff measures and one of the primary one is "to try to obtain the elimination of China's unfair and distortive technology-transfer policies" i.e., stealing or pressuring companies to hand over technology.
With reporting by AP, BBC, Bloomberg, Reuters, and Xinhua