China may impose $3.58 billion in annual trade sanctions on U.S.: WTO panel

sonos sonos One (Gen 2) - Voice Controlled Smart Speaker with Amazon Alexa Built-in - Black read more

China may impose $3.58 billion in annual trade sanctions on U.S.: WTO panel

Defense Secretary James Mattis welcomes Chinese Minister of National Defense Gen. Wei Fenghe to the Pentagon

More

ZURICH (Reuters) - A World Trade Organization (WTO) panel said on Friday that China could slap compensatory sanctions on U.S. imports worth $3.579 billion annually for the U.S. failure to remove anti-dumping duties, a figure that was roughly half what China had sought.

The decision came as the world's two biggest economies try to clinch Phase 1 of a trade deal. President Donald and U.S. negotiators are "very optimistic" about concluding it, White House adviser Larry Kudlow said.

sonos sonos One (Gen 2) - Voice Controlled Smart Speaker with Amazon Alexa Built-in - Black read more

In the WTO ruling, a three-member arbitration panel said Chinese exporters suffered impairment to trade valued at $3.579 billion annually. China may now ask the WTO's Dispute Settlement Body for a green light to impose the retaliatory tariffs on imported U.S. goods valued up to that amount each year.

(Reporting by Stephanie Nebehay, editing by John Miller)

all right reserved for yahoo news

Get the latest news delivered to your inbox

Follow us on social media networks

PREV UPDATE 1-Three flight attendant unions voice alarm after 737 MAX hearings
NEXT UN keeps Darfur peacekeepers but hopes for their departure